We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
TSXV:NWM | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
TORONTO, June 28, 2013 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announces that, further to its news release dated June 14, 2013, it has paid $75,000 USD and issued 28,533,000 common shares (the "Bonus Shares") to the Company's lender, Global Resource Fund (the "Lender"), as the initial extension fee for extending the maturity date on the Company's current debt facility (the "Facility") of $18,500,000 USD. Following the issuance of the Bonus Shares, the Lender holds 60,033,008 common shares in the capital of NWM.
The due date on the Company's current debt facility has been extended from June 2013 to September 2014 and the effective interest rate on the principal will be reduced from 15% to 12.5% per annum. The revised interest rate has the potential to reduce interest payments over the period by approximately $500,000 USD. In order to reduce the interest rate and fully extend the loan until September 30, 2014, there are several conditions which must be satisfied by September 30, 2013 (see news release dated June 14, 2013 for further details).
The transaction is subject to the final approval of the TSX Venture Exchange. The Bonus Shares are subject to a four month and one day hold period expiring on October 27, 2013.
About NWM Mining Corporation
NWM is in commercial gold production at its wholly owned Lluvia-Jojoba gold mine. The mine is an open pit heap leach operation in Sonora State, Mexico. Management believes the property is significantly under-explored and hosts potential to provide further gold discoveries and resource and reserve upgrades. While management has focused in the past on developing the mine and supporting cash flows, the focus in 2013 will shift to increasing mining rates and drilling to expand geological resources and reserves.
Additional information about NWM can be found on the NWM website at www.nwmcorp.ca or on SEDAR at www.sedar.com.
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information", as such term
is defined in applicable securities laws. Forward-looking information
includes, without limitation, the success of exploration activities,
price outlooks, production expectations and other similar statements
concerning anticipated future events, conditions or results that are
not historical facts. These statements reflect management's current
estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company cautions that all forward
looking information is inherently uncertain and that actual performance
may be affected by a number of material factors, many of which are
beyond the Company's control. Accordingly, actual future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of
this news release and the Company is under no obligation to update or
alter any forward-looking information.
SOURCE NWM Mining Corporation
Copyright 2013 Canada NewsWire
1 Year NWM Mining Corporation Chart |
1 Month NWM Mining Corporation Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions