Liberty Mines Extends Loan Maturity Date

Liberty Mines Inc. (TSX:LBE) announced that it will extend the maturity date for two separate loan and restructuring agreements that had been signed with Jien International Investment Ltd.

As quoted in the press release:

The loan agreement was originally signed on June 30, 2011, and provided Liberty a fully-drawn term loan of C$28,914,849.06 and a fully-drawn revolving loan in the principal amount of C$20,000,000.  Its original maturity date was December 31, 2012.

Liberty Mines’ President and CEO, Chris Stewart, said:

We are very pleased with Jien’s continued support and commitment to Liberty.

To view the whole press release, click here. 

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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with Formation Metals to get their latest news instantly.

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