Nicaragua:

Ram Power, Corp. Announces Conversion of San Jacinto-Tizate Phase II Construction Loan to Term Loan (PR Inside - Press Release)

Ram Power, Corp. has announced that the company has reached an agreement with its project lenders syndicate, led by the International Finance Corporation, to convert its Phase II Credit Facility for the San Jacinto-Tizate Project located in the northwest of Nicaragua, to a term loan.

Under the terms of the agreement, the lenders agreed to waive the minimum steam requirement set forth in the original agreement and permit Ram Power to complete its resource remediation program over the next five months. While Ram Power will not be permitted to receive distributions until the completion of the resource remediation program, they will receive administrative fee payments from project revenues of $0.5 million per month effective July 31, 2013, August 15, 2013, September 15, 2013 and October 15, 2013.

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