TORONTO, December 9, 2013 – Bridging Credit Fund LP (“Bridging”) is pleased to announce that it has closed a $1,000,000 debt facility with a Canadian-based junior exploration company (the “Company”).
The loan provided to the Company is secured by a mortgage on the property as well as by a charge on all other assets of the Company.
The proceeds of this loan will be used to provide the Company with working capital while the anticipated purchaser of the Company’s surface and timber assets completes its due diligence. This due diligence is currently well underway.
Bridging is a privately held Canadian company providing small and middle-market Canadian and U.S. companies with alternatives to the financing options offered by traditional lenders. Lending proceeds are used by companies to address short-term needs such as restructuring existing debt, providing working finance for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts.
About Bridging Credit Fund LP
Bridging’s investment objective is to achieve superior risk-adjusted returns with minimal volatility and low correlation to most traditional asset classes.
To achieve its investment objective, Bridging invests in an actively managed portfolio comprised of (i) asset-based loans primarily to Canadian and U.S. based companies that have good quality collateral and (ii) factored accounts receivable and inventory financing primarily to Canadian and U.S. based companies and financing of Canadian federal and provincial tax credits.
For further information please contact:
Vice President, Sales
77 King Street West – Suite 2925
Toronto, ON. M5K 1K7