Cyprium Mining Debenture Holders Approve Extension Of Maturity Date To February 28Th, 2019

Montreal, Quebec – (September 22^nd, 2016) Cyprium Mining (TSXV:CUG) is pleased to announce that at a special meeting of debenture holders held on September 21^st, 2016 (the “Meeting”) the holders of $750,000 in principal amount of unsecured debentures bearing interest at 12% per annum (the “Debentures”) overwhelmingly approved all matters presented, including the extension of the maturity date from February 28^th, 2017 to February 28^th, 2019. The Corporation had issued the Debentures under a debenture indenture dated February 28, 2014 (the “Indenture“). The Debentures were entitled to be voted at the Meeting on the basis of one vote for each one dollar of principal amount.
The Corporation is also pleased to announce that it has extended the maturity of US $1,026,000 of 12.5% bonds from March 15^th, 2018 to January 1^st, 2019 (the “Bonds”). The Bonds were issued as part of the bond financing announced by Cyprium in March 2015. As part of the amendment of the Bonds, the Corporation was granted the option to pay all interests in common shares of the Corporation.
Alain Lambert, Chairman and CEO of Cyprium commented: “I’m glad to report that 96.8% of the principal amount of debentures voted at the meeting were in favour of all matters presented. This sends a clear message of support for the company’s business plan. Our objective remains to finalize in the next two weeks further extensions of the maturity date of various loans so that at least 90% of the company’s loans will mature in 2019. Achieving this objective will pave the way for greater access to the equity market as well as possible corporate transactions to ensure the development of the Potosi mine and the La Chinche exploration property.”
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