DRAGOON, Ariz., Oct. 20, 2004 (PRIMEZONE) -- Nord Resources Corporation (Pink Sheets:NRDS) is pleased to announce that it has completed a $2.75 million dollar bridge loan facility with a unit of Boston-based Regiment Capital Advisors, LLC.
Proceeds of the loan will be used to fund ongoing activities at the Company's Johnson Camp copper mine, exploration at both the Mimbres and Coyote Springs properties, cash deposits to secure certain crushing equipment for Johnson Camp and for general corporate purposes.
Ron Hirsch, Chairman & CEO, stated, "We are extremely pleased to receive this funding from Regiment Capital Advisors, LLC. This is an important step in our current goal to bring the Johnson Camp copper mine back into full production."
Nord Resources is an Arizona-based natural resource company focused on near-term copper production from its Johnson Camp Mine and the exploration for copper, gold and silver at its other properties in Arizona and New Mexico. The Company has additional interests in Australia and West Africa.
This release includes certain statements that may be deemed to be "forward-looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements released, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Corporation expects, are forward-looking statements. Although Nord Resources Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include metals prices, exploitation and exploration successes, availability of capital and financing, and general economic, market or business conditions. Nord Resources Corporation does not undertake any responsibility to update the forward-looking statements in the future.