Brief: Silver Bear Resources approves facilities agreement for development of Mangazeisky Silver Project
05/08/2016 13:47
Aug 5 (Reuters) - Silver Bear Resources Inc SBR.TO
* Lenders will make available to company and prognoz secured
loans in aggregate principal amount of us$55.2 million
* Anticipates secured loan funding will result in net new
funding to co,prognoz of about $22 million following repayment
of promissory notes
* Silver bear approves facilities agreement for final
development and construction of Mangazeisky Silver Project
* Term loan facility will be used by company to repay
principal and accrued interest on certain outstanding promissory
notes
* Secured loan funding will accrue interest at a rate of 15%
per annum
* Got waivers from inflection and aterra in respect of
default by co's failure to repay maturity date amounts and
interest on promissory notes
Source text for Eikon: ID:nMKWw3Qy5a
Further company coverage: SBR.TO
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