Seafield Resources Ltd. (TSXV:SFF) announced a private placement of loan with new investor, RMB Australia Holdings Limited for gross proceeds of CAD 16,500,000 on February 21, 2013. The loan has a term of three years with an interest rate of London Interbank Offered Rate plus 7% per annum. The company will also issue 33,000,000 warrants with an exercise price of CAD 0.10 and exercise period of 36 months subject to TSX Venture Exchange approval. The company will grant security interests to the lender which includes a first ranking charge over the Quinchía Gold Project and a pledge of the securities and assets of Seafield Resources Ltd. and Minera Seafield S.A.S. The company may prepay at any time without penalty or from proceeds of project financing post bankable feasibility study.

On March 1, 2013, the company announced that it has made initial drawdown of CAD 3,300,000. The company issued 33,000,000 warrants in the transaction. The warrants will expire on March 1, 2016 and will represent 14.7% stake in the company.

On April 1, 2013, the company announced that it has made an additional drawdown of CAD 3,052,943.

On May 1, 2013, the company announced that it has made an additional drawdown of CAD 2,086,380.

On July 1, 2013, the company announced that it has made an additional drawdown of CAD 1,155,821.

On August 1, 2013, the company announced that it has made an additional drawdown of CAD 511,357.

On September 2, 2013, Seafield Resources Ltd. (TSXV:SFF) closed the transaction. The company announced that it has made an additional drawdown of CAD 1,200,764. So far, the company has received CAD 11,307,265 under the facility and paid costs of CAD 1,382,579.