Nautilus Receives Additional Loan Under Secured Loan Facility

Nautilus Minerals (TSX:NUS) has announced that it has received a loan from Deep Sea Mining Finance in the principal amount of US$825,000 under the previously announced loan agreement between the company, two of its subsidiaries and the lender which provides for a secured structured credit facility of up to US$34 million.

According to the release, Nautilus has issued to the lender an additional 3,543,814 warrants of the company in connection with the US$825,000 loan. Each such warrant entitles the lender to purchase one common share of the company at a price of C$0.17 for a period of five years from the date of issuance of the warrant.

To date the company has issued a total of 61,748,278 share purchase warrants to the lender in connection with loans totaling US$14,375,000.

Click here to view the full Nautilus Minerals (TSX:NUS) press release.