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KhanLex advises European Bank for Reconstruction and Development on a USD 5.0 million convertible loan to the dual-listed Erdene Resource Development Corporation

KhanLex advised European Bank for Reconstruction and Development on its USD 5.0 million convertible loan to Erdene Resource Development Corporation (Erdene).
The loan will help complete a pre-feasibility study, carry out an environmental and social impact assessment and obtain the licenses and permits necessary to advance the Khundii Gold project, the flagship asset of Erdene in Mongolia, into operation by 2021.
Erdene focuses on exploration and development of precious and base metals in Mongolia. In 2018, TSX-traded Erdene became the first ever cross-listed company on the Mongolian Stock Exchange.
“We are very glad to continue advising EBRD in its private sector operations in Mongolia. Also, we’re pleased that we were able to support Erdene Resource Development Corporation and its Mongolian subsidiary, Erdene Mongol LLC, on this transaction, which will further support Khundi Gold Project, create jobs and enhance environmental standards” said Batjargal Gombosuren, Partner, who led the KhanLex team on this deal.

Link to the further news on this transaction:

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