Talon Metals Corp says it has agreed to a 30 day extension on the maturity date of the C$6 million loan it had made to Saber Energy Corp, a CBM explorer. The original maturity date of the loan was March 24, 2009 and the loan will not be repaid on this date, the Talon said in a statement. In addition, Talon's due diligence review of Saber regarding a potential merger of the two companies remains ongoing, said the metal explorer in a statement. On Sept. 25, 2008, Talon Metals had signed a pre-merger agreement with Saber Energy to benefit from the former's expanding gas projects in southern Africa, and agreed to loan Saber up to $6 million. Talon's C$6 million loan to Saber is secured against Saber's assets which include its land licenses in Botswana and other assets, the company added.
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