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Huldra Silver Receives Additional Advance of $500,000 Through Debt Facility

Resource Investing News

Huldra Silver Inc. (TSXV:HDA) announced that they have received an additional advance of $500,000 through its debt facility with Waterton Global Value, L.P.

Huldra Silver Inc. (TSXV:HDA) announced that they have received an additional advance of $500,000 through its debt facility with Waterton Global Value, L.P.

As quoted in the press release:

The advance forms a further advance under and is subject to the terms of the Credit Agreement, as amended, entered into with Waterton on June 16, 2011, bears interest at 5% per annum, calculated and payable on maturity, and is due on the earlier of the date of demand by Waterton, the date that Waterton provides a new loan to the Company or October 31, 2013. The amount to be repaid will also be subject to a silver adjustment provision similar to the provision contained in the Credit Agreement, unless Waterton provides a new loan to the Company, in which case the amount to be repaid will only be principal plus interest. In consideration for the advance, the Company agreed to pay a structuring fee of $10,000. The agreement is subject to approval of the TSX Venture Exchange. Waterton’s additional advance and continued cooperation will make a positive difference in the Company’s immediate plans.

To view the whole press release, click here. 

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