Nevada Copper Corp. receives interim $20M DIP financing for Chapter 11 bankruptcy, appoints new leadership, and halts share trading.
Nevada Copper Corp. received interim approval for $20M debtor-in-possession (DIP) financing, out of a $60M commitment. The funds will cover care and maintenance expenses during the Chapter 11 bankruptcy process. The company plans to pursue a sale process and has retained Moelis & Company LLC for assistance. Gregory Martin is appointed as interim President & CEO, and Matthew Anderson as interim CFO. The company's shares are halted from trading amid a Toronto Stock Exchange delisting review.
June 17, 2024
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