VANCOUVER, British Columbia--(BUSINESS WIRE)--(LVCA:OTCBB) Lake Victoria Mining Company, Inc. has entered into a Financial Advisory Engagement Agreement (Agreement) with Mr. Hemendra A. Ghaghada (Advisor) of Dubai, United Arab Emirates.
The Agreement mandates the Advisor to provide advisory services with respect to the Company’s corporate financial and/or strategic initiatives in securing a financing commitment in the gross amount of up to USD$5.5 million. The financing is on a project by project basis and currently is specifically related to the Company’s Kinyambwiga Gold Project. It is agreed by the Parties that the advisory services will be undertaken on a best efforts and non-exclusive basis.
The initial term of the Agreement is for three months and compensation for the Advisor’s services will depend on the amount of funds that are provided by the Advisor.
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa’s fourth largest gold producer behind South Africa, Ghana and Mali.
Lake Victoria Mining Company, Inc.
David T. Kalenuik, President & CEO
Phone: (303) 586-1390