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Viridis Mining and Minerals Says Brazilian Development Bank Approves 78 Million Brazilian Reais Financing Facility; Shares Up 3%

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Viridis Mining and Minerals (ASX:VMM) said that the Brazilian Development Bank approved a 77.5 million Brazilian reais financing facility for Viridis Mineração, the company's wholly-owned Brazilian subsidiary, according to a Wednesday Australian bourse filing.

The facility has a 16-year total tenor, comprising a four-year grace period followed by a 12-year amortization period, at an indicative current interest rate of the Brazil Reference Rate plus 2.7% per year, the company said.

The company is working with the bank to identify and evaluate larger-scale financing opportunities for the development of the Colossus project, it added.

The resource explorer's shares rose 3% in recent trading on Wednesday.

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