North American Tungsten Extends $11 Million Loan With Callidus

North American Tungsten (TSXV:NTC) has announced an amendment to its $11 million loan with Callidus Capital Corporation. The changes include additional proceeds of $3.65 million and an extended repayment date of May 31 2016.

As quoted in the press release:

The Callidus Loan remains repayable on demand and bears interest at 18% per annum with interest payable monthly. Principal repayments of $150,000 per month will continue, with the remaining balance due at maturity. The Callidus Loan is secured by a first charge over substantially all assets of the Company, excluding the Mactung Project and all mining and mineral leases, claims and tenures related thereto.

Click here to read the North American Tungsten (TSXV:NTC) press release