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Nevada Copper Announces Transformative Balance Sheet Improvement

YERINGTON, Nev., Oct. 12, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC:NEVDD) (“Nevada Copper” or the “Company”) today announced…

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YERINGTON, Nev., Oct. 12, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC:NEVDD) (“Nevada Copper” or the “Company”) today announced that it has entered into an agreement with its senior project lender and a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities, providing substantially greater balance sheet flexibility and support for the completion of the ramp-up of its underground mining operations and subsequent advancement of its open pit project and broader property exploration targets.

Highlights

  • Extension of Senior Project Facility:
    • Two-year deferral of first loan repayments: First debt repayments deferred by two years, with Tranche A repayment only scheduled to begin in July 2025, providing significant additional flexibility
    • Extension of loan amortization schedule: Extended amortization schedule with final maturity now occurring in July 2029
    • Additional project completion flexibility: The long stop date for the formal commercial project completion test deferred until June 2023
  • Consolidation and extension of shareholder loans
    • Consolidation of shareholder loans: All outstanding shareholder loans consolidated under a single existing shareholder credit facility, as amended (the “Amended Credit Facility”)
    • Two-year extension to maturity date: Maturity of the Amended Credit Facility deferred until 2026, with no scheduled payments before final maturity
    • Additional committed liquidity: Increased availability of US$41 million under the Amended Credit Facility

Randy Buffington, Chief Executive Officer of the Company, commented: “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base”.

Further Details

Senior Project Facility Extension

The Company has entered into the following amendments to its amended and restated credit facility (the “KfW Facility”) with its senior project lender, KFW-IPEX Bank:

  • Under the US$115 million Tranche A of the KfW Facility:
    • The first debt repayment now occurs two years later on July 31, 2025, with the debt service reserve account to be funded six months prior;
    • The final amortization now occurs one year later on July 31, 2029;
    • The interest margin on the loan increases by 0.5% to 2.1%, reflective of the extended loan tenor; and
    • Commencement of the project cash sweep under the existing facility agreement will be deferred by two years to January 31, 2024. A one-time extraordinary cash sweep of excess cash will also be deferred by two years to July 31, 2025.
  • Under the US$15 million Tranche B of the KfW Facility:
    • The first debt repayment now occurs two years later on July 31, 2024, with no debt service reserve account requirement;
    • The final amortization now occurs later on July 31, 2025; and
    • The interest margin on the loan increases by 0.5% to 5.4%, reflective of the extended loan tenor.

In relation to these changes, an amendment fee of 0.25% is payable with 90 days of closing of the facility amendments, and a further 0.75% is payable following the project completion test.

A condition precedent of the facility amendment is the receipt by the Company’s wholly-owned subsidiary, Nevada Copper, Inc., of at least US$40 million in net proceeds from debt or equity financings (the “KfW Condition”). If fully drawn the Amended Credit Facility would satisfy this condition.

Shareholder Loans Consolidation and Extension

Concurrent with securing the amendments to the KfW Facility, the Company has entered into a non-binding term sheet with Pala Investments Limited (“Pala”), the Company’s largest shareholder, providing for all outstanding shareholder loan promissory notes to be consolidated under the existing credit facility previously provided by Pala to the Company on February 3, 2021. The Amended Credit Facility will reflect the following amendments:

  • The Amended Credit Facility shall be increased to US$138 million, with the use of funds to include:
    • Additional liquidity of US$41 million (the “Additional Tranche”), which if fully drawn would satisfy the conditions precedent under the amended KfW Facility; and
    • The retirement of all other outstanding shareholder loans in the form of promissory notes;
  • Maturity date extended by two years until 2026 under the Amended Credit Facility, with no scheduled payments before final maturity; and
  • No change to the existing interest rates or other material terms in the Amended Credit Facility.

In relation to these changes, an amendment and extension fee of 4% of the principal amount of the Amended Credit Facility, excluding the Additional Tranche, shall be payable at closing of the Amended Credit Facility, such fee to be capitalized to the Amended Credit Facility balance. A disbursement fee of 2% will apply to amounts of the Additional Tranche that are drawn by the Company and will be capitalized to the Amended Credit Facility balance at the time of such draws. Fifteen million common share warrants shall be issued to Pala, exercisable until the maturity of the Amended Credit Facility, at an exercise price equal to the lower of a 25% premium to the 5-day volume weighted average price of the shares of the Company immediately prior to the closing of the Amended Credit Facility, or a 25% premium to the 5-day volume weighted average price of the shares of the Company immediately following the announcement of the offering price of any equity financing the Company may pursue prior to the closing of the Amended Credit Facility.

Should the Company complete one or more equity financings in the future, Pala will be entitled to equitize and/or convert up to US$35 million of principal loan amounts outstanding under the Amended Credit Facility into new common shares of the Company on the same terms of any such financing.

The terms of the Amended Credit Facility have been reviewed and approved by the independent directors of the Company. The closing of the Amended Credit Facility is subject to the negotiation of definitive documentation and the approval of the TSX. There can be no assurance that definitive documentation in respect of the Amended Credit Facility as outlined above will be entered into. If the Amended Credit Facility is not entered into, the Company will require other financing to be able to satisfy the KfW Condition.

About Nevada Copper

Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine (the “Underground Mine”) and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

NEVADA COPPER CORP.
www.nevadacopper.com
Randy Buffington, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
[email protected]
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the Amended Credit Facility, including the terms thereof, and the satisfaction of the KfW Condition.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of the COVID-19 pandemic on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; failure to obtain the effectiveness of extensions under and amendments to the Company’s amended and restated senior credit facility with KfW IPEX-Bank; failure to enter into the Amended Credit Facility; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information or statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.

Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.






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Stellar Africagold Samples 3.40 G/T Au over 20 Metres Confirming Gold Discovery at Tichka Est Project, Morocco

  

Montreal, October 25, 2021– TheNewswire – J. François Lalonde, President and CEO of Stellar AfricaGold Inc., (TSXV:SPX) ("Stellar" or the "Company")…

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Montreal, October 25, 2021– TheNewswire – J. François Lalonde, President and CEO of Stellar AfricaGold Inc., (TSXV:SPX) (“Stellar” or the “Company”) is pleased to announce that the second trenching program on the Zones B and A gold structures of its Tichka Est project in the High Atlas region confirms that Stellar has a new gold discovery in the High Atlas region of Morocco.

 

Summary of Results

 

Stellar successfully completed a second 10-trench surface sampling program extending the mineralized strike of both the Zones B and A gold structures on its 90% earn-in Tichka Est gold project in Morocco. The trenching program, which totalled 200 linear metres, yielded intervals in Zone B as high as 3.40 g/t Au over 20 meters including internals of 5.23 g/t Au over 11 meters and 8.14 g/t Au over 5 meters in Trench 7B, 4.64 g/t Au over 14 meters including 11.16 g/t Au over 5 meters in Trench 9B, and 3.4 g/t Au over 17 meters including 9.55 g/t Au over 4 meters in Trench 6B. This second trenching program builds upon Stellar’s previous program (see news release April 19, 2021) which yielded intervals up to 4.55 g/t Au over 15 meters including an internal of 7.47 g/t Au over 6.0 meters in Zone B, and 3.36 g/t Au over 10 meters including an interval of 8.73 g/t Au over 3.0 meters in Zone A.

 

The Zone B structure has been mapped at surface for a strike length of over 2 km of which 750 meters has been trenched and channel sampled. The Zone A structure has been mapped for over 500 meters along strike of which 450 meters has been trenched and channel sampled.

 

About the Tichka Est Project, Morocco

 

The Tichka Est property is comprised of three contiguous permits covering an area of 44.6 km2 within the High Atlas Western Domain approximately 100 km SSW of the city of Marrakech. The general area is accessible year-round by road via a national road to the village of Analghi located near the mineralized gold zone. Stellar is awaiting permits for construction of a heavy equipment access road to proposed drill sites at Zones B and A.

 

Details of the Second Trenching Program

 

This second trenching program was designed to provide a better understanding of the geological and structural nature of the Zone B and A structures and to confirm the lateral extension of the two previously identified highly metamorphosed gold mineralized shear zones. The trenches were dug to an average depth of 1.5 meters and over lengths of 15 to 25 meters depending upon the visible width of the structure at that point. Seven trenches were dug across the Zone B structure and two across the Zone A structure. One trench was dug in another area of interest outside of the Zones B and A structures.

   

Map 1 – Aerial View of the Zones B and A Trenching Program

 


Click Image To View Full Size

 

ZONE B

 

A portion of the two-kilometer plus surface exposure of Zone B has now been investigated by two trenching programs. A total of 12 trenches were dug by teams using hand tools down to a depth of 1.5 meters. There, fresh rock exposures were channel sampled across one-meter intervals using a rock saw for a better conformity of the samples (See figure 1 below). In this recent trenching program, seven trenches were dug across the Zone B mineralized structure which extended the trenched gold-mineralized zone to over 750 meters of strike length trending Northeast to Southwest.

     

Figure 1 – Zone B – Oxidized gold mineralization in trench 7B


Click Image To View Full Size

 

The Zone B gold mineralized structure is oriented N800 and located along the contact of a limestone and a schist. The contact is highly sheared and injected by quartz-ankerite-calcite veins and veinlets with trace of sulphide, pyrite, chalcopyrite and arsenopyrite to which the gold mineralization is closely associated. Within the 750-meter trenched mineralized zone the best results appear to be on the Northeastern end of Zone B. The highest assay results, which were obtained in trenches T6B, T7B and T9B, and are listed below.

 

Trench 6B – 3.4 g/t Au over 17 meters including 9.55 g/t Au over 4 meters.

 

Trench 7B – 3.40 g/t Au over 20 meters including 5.23 g/t Au over 11 meters and 8.14 g/t Au over 5 meters. Note also that Trench 7B is mineralised over its entire 20-meter length and that the width of the mineralised Zone B structure exceeds the trench length at that location.

 

Trench T9B – 4.64 g/t Au over 14 meters including 11.16 g/t Au over 5 meters

 

Figure 2 – Zone B – Geological cross section of trench 7B

 


Click Image To View Full Size

 

 ZONE A

 

Zone A is a N3500 trending structure. During this program two new trenches were dug to confirm the northern extension of the structure. The two new trenches successfully confirmed the northern extension of the zone for an additional 125 meters increasing the confirmed gold-mineralized Zone A to approximately 450 meters along strike. In Zone A the mineralisation is in a shear zone at the contact of a dolerite dyke and a schist unit. The sheared zone is also injected by quartz-ankerite veins and veinlets.

   

Figure 3 – Zone A – Quartz and ankerite mineralization in trench 5A

   
Click Image To View Full Size

 

The highest assay results in Zone A were obtained in trenches T5A and T6A are listed as follow.

 

T5A – 1.85 g/t Au over 8.0 meters including 3.55 g/t Au over 3 meters

 

T6A – 2.70 g/t Au over 5.0 meters including 3.71 g/t Au over 3 meters

         

Figure 4 – Zone A geological cross section of trench 5A

 


Click Image To View Full Size

 

Technical Information and Quality Control Notes

 

The trenches were excavated across the Zones A and B structures using hand tools to an average depth of 1.5 metres. The trenches were mapped at a scale of 1:100 and channeled sampled at 1 metre intervals using a mechanical rock saw for a better sample accuracy as recommended in Stellar’s Technical Report of November 15, 2020.

 

Sample collection was done by two experienced senior local geologists under the supervision of Yassine Belakbir, Stellar’s Director in Morocco and by Dr. Ali Saquaque, Stellar’s Technical Advisor for Africa. The samples were bagged at the sampling site and stored in safe areas until being transported to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech for analysis.

 

200 samples were sent to Afrilab for this program. In addition, for the purpose of quality control, 7 standard, 7 duplicate and 7 blank samples were added to the batch and, except for one duplicate that is showing a probable nugget effect, all standard analysis results fall within the tolerance range of the original samples. The blank sample values were all below the detection limit for gold.

    

CONCLUSION

 

In conclusion, the second Tichka Est trenching program of the Zone A and B structures extended the mineralized strike lengths of both zones and successfully outlined wider gold mineralization with some high-grade intersections of considerable widths confirming Stellar’s gold discovery in Morocco. The gold is associated with injected quartz-carbonate veins in highly brecciated sheared structures context. The results fully justify the drill program currently in preparation beginning on the Zone B structure and progressing to the Zone A structure thereafter.

 

Additionally, this program provided Stellar with valuable geological information which will facilitate the exploration of other areas of interest within the Tichka Est Permits area.

  

About Tichka Est Project

 

The Tichka Est property is comprised of three contiguous prospecting permits covering an area of 44.6 km2. The Tichka Est Property lies within the High Atlas Western Domain about 100 km SSW of the city of Marrakech. The area is accessible year-round by road via a national road to the village of Analghi located near the mineralized gold zone.

 

About Stellar AfricaGold Inc.

 

Stellar AfricaGold Inc. is a Canadian gold company with offices in Vancouver, BC and in Montreal, QC. Stellar President François Lalonde can be contacted at 514-992-0929 or by email at [email protected].

 

The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.

 

On Behalf of the Board

 

J. François Lalonde

President & CEO

 

This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

Copyright (c) 2021 TheNewswire – All rights reserved.





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West High Yield (W.H.Y.) Resources Ltd. Announces Grant of Stock Options

Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces…

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Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (“West High Yield” or the “Company“) announces that its board of directors has approved and authorized the grant of 350,000 stock options (the “Options“) to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621





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Scorpio Gold – Arranges Short-Term Credit Facility with Board

VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V:SGN) reports that certain of the directors…

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VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V:SGN) reports that certain of the directors of the Company have agreed to provide the Company with a short- term credit facility in order to maintain its operations over the short-term. The proceeds of the advances made under the credit facility will be used to bridge the Company’s activities until all Goldwedge assays have been announced so that an equity placement can be conducted later in the year.

As announced on September 29, 2021, the pending assays from the Goldwedge underground drill program will be announced upon receipt and analysis. The drill program was focused on defining the on-strike and down-dip continuity of mineralization intersected in the 2020 drilling program (July 27, 2020 news release) as well as testing new areas with the potential to define a mineral resource base.

Future drilling will test the Company’s structural interpretation that mineralization at Goldwedge could connect with mineralization in the West Pit area of the Company’s adjacent and proximal Manhattan Mine project. Goldwedge is a fully permitted underground mine and a 400 ton per day mill facility. The Manhattan Property includes 2 former producing mines, the Reliance Mine, which reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941, and the Manhattan Mine East and West pits, which produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance StructuralZone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area.

The credit facility is unsecured and interest free for US$500,000 to be drawn in advances at a minimum of US$100,000 over the next few months. All advances must be repaid within the earlier of Scorpio Gold closing a private placement more than C$1,000,000 and January 1, 2022.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Brian Lock
Chief Executive Officer

Brian Lock
Tel: (604) 889-2543
Email: [email protected]

Anthony Simone
Tel: (416) 881-5154
Email: [email protected]
Website: www.scorpiogold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge and Manhattan mines project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

SOURCE: Scorpio Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/669314/Scorpio-Gold–Arranges-Short-Term-Credit-Facility-with-Board





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