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North American Tungsten Corporation Ltd. (TSXV:NTC) announced the extension of its CAD$12,000,000 working capital loan facility with HSBC Bank Canada until December 31, 2013.
As quoted in the press release:
A US$12,000,000 Letter of Credit (“L/C”) backing the Loan is sponsored by two directors of the Company (the “Sponsors”) and has been extended for the same period. The Sponsors and the Bank have similarly extended a “Put” Agreement that allows the Bank to exchange the outstanding balance under the Loan with the Sponsors for up to the US$12,000,000 L/C.
Click here to read the North American Tungsten Corporation Ltd. (TSXV:NTC) press release
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