Erdene Resource Development Corp announced that it has executed a mandate letter with Export Development Canada (“EDC”) for an up to US$55 million senior secured debt facility to develop the Bayan Khundii Gold Project in southwest Mongolia.

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence.

"Executing the debt financing mandate letter with EDC is an important milestone in the development of our high-grade Bayan Khundii Gold Project,” said Peter Akerley, Erdene’s President and CEO. “EDC has assisted many companies in developing mining projects internationally, including in Mongolia. The involvement of EDC, as well as our major shareholder the European Bank for Reconstruction and Development will help to ensure that the Project will be developed to the highest environmental and social standards, delivering benefits for Mongolian and international stakeholders.”

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