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Silver Bear Finalizes Increase of Existing Facilities and Note Extension With Its Major Shareholders
Mar. 28, 2017 08:56AM PST
Precious MetalsSilver Bear Resources Inc. (“Silver Bear” or the “Company”) (TSX:SBR) today announces, further to its press release of February 1, 2017, that it has now concluded formal agreements with its major shareholders, A.B. Aterra Resources Ltd. (“Aterra”) and Inflection Management Corporation Limited (“Inflection”) which increase the previously provided project facilities by a further US$15 million …
Silver Bear Resources Inc. (“Silver Bear” or the “Company”) (TSX:SBR) today announces, further to its press release of February 1, 2017, that it has now concluded formal agreements with its major shareholders, A.B. Aterra Resources Ltd. (“Aterra”) and Inflection Management Corporation Limited (“Inflection”) which increase the previously provided project facilities by a further US$15 million (the “Facilities Agreement Increase”) and extend the maturity dates of their outstanding convertible notes from March 31, 2017 to December 31, 2017 (the “Note Extension”).
As quoted in the press release:
Silver Bear’s CEO, Graham Hill commented: “I would like to thank our major shareholders for their continued support in modifying their agreements to give the Company financial flexibility to transition into production within a manageable timeframe. This ongoing commitment confirms the excellent project economics and substantial future potential.”
