This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Infinito Gold extends contract of BNP Paribas 2009-11-13 13:48 ET - News Release Mr. John Morgan reports INFINITO EXTENDS ENGAGEMENT OF BNP PARIBAS Infinito Gold Ltd. has extended the engagement of BNP Paribas to March 31, 2010. BNP Paribas was engaged from June, 2009, to Sept. 30, 2009, to provide structuring advice and work with the company as lead arranger on a project financing for the company's Crucitas project. BNP Paribas's work has included technical and legal due diligence, financial modelling, negotiation of financing documentation and preparation of materials for circulation to potential lending syndicate members. Under the terms of the extension of its engagement, BNP Paribas will continue this work and will be paid a work fee of $2,000 per day, commencing Oct. 10, 2009. The work fee is payable to Paribas North America Inc. (a wholly owned subsidiary of BNP Paribas) monthly in common shares to be issued at the greater of the 20-trading-day volume-weighted average price at the end of the period of each payment and the closing market price of the company's shares on the day before the payment is due, less the maximum discount permitted by the TSX Venture Exchange. The work fee ceases to be payable when the engagement is either terminated or BNP Paribas initiates the loan syndication process by circulating a syndication memorandum to potential lenders. Commencement of the syndication process for the project financing is subject certain terms and conditions, including the favourable resolution of the challenge to the company's mining permit before the Costa Rican Constitutional Court (the SALA IV). Payment of the work fee is not contingent on a financing being completed.
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