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Paternoster makes £250,000 investment in first for RiverFort partnership
(WebFG News) - Natural resources investor Paternoster Resources announced on Friday that it is to invest £250,000 in a portfolio of income yielding investments arranged by RiverFort Global Capital.
The announcement represents the first major step of the partnership between the two companies which was agreed upon in January, whereby Paternoster would invest in transactions that have been arranged by RiverFort.
Nicholas Lee, chairman of Paternoster Resources, said: "We are pleased that we are making good progress on developing the company's strategy with RiverFort. We have now agreed to invest in a portfolio of attractive investments and will have access to a significant pipeline going forward. This will enable us to quickly grow our portfolio with investments that can generate both an attractive cash return whilst providing downside protection."
The initial portfolio comprises of investments in Jubilee Metals Group plc, Amur Minerals plc, Lions Bay Capital Inc and Artemis Resources Limited in the form of both senior and convertible debt.
The portfolio represents, on average, 2.8% of total investment amounts arranged by RiverFort, which "demonstrates the scope for Paternoster to scale-up the size of its investments as it develops its partnership with RiverFort," according to Paternoster Resources.
As of 1554 BST, Paternoster Resources' shares were unchanged at 0.11p.