Stornoway Diamond Corporation (TSX:SWY) has drawn on the second tranche of its bridge credit facility of up to $20 million with Diaquem Inc. The Company also announced that Diaquem agreed to extend the maturity date of the facility to June 27, 2014 from March 28, 2014.

As quoted in the press release:

The proceeds of the second tranche of the facility, in an amount of $10 million, will be used in connection with the development of the Renard Diamond Project and for general corporate purposes, including costs relating to Stornoway’s ongoing project financing activities. The facility is now fully drawn.

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