NGEX MINERALS LTD.

NGEX
Delayed Bourse de Toronto - 03:59 2022-11-25 pm EST
3.350 CAD +4.04%

NGEx Minerals Details US$3.0 Million Credit Facility

09/30/2022 | 06:43am
(MT Newswires) -- NGEx Minerals Ltd. (NGEX.V) overnight Thursday said it has entered into a US$3.0 million credit facility with Zebra Holdings and Investments S.a.r.l. and Lorito Holdings and Investments S.a.r.l., companies controlled by a trust settled by the late Adolf H. Lundin, and insiders of the company.

The facility involves a debenture that has a term of 12 months ending Sept. 28, 2023. No interest is payable during the term of the debenture, the copper and gold exploration company said.

The terms of the facility include the company issuing to the lenders, subject to approval of the TSX Venture Exchange, 12,500 common shares upon closing of the debenture and 200 shares per month for each US$50,000 of the facility outstanding from time to time up to the maturity date.

The facility will provide financial flexibility to fund the company's ongoing work programs and provide general working capital, NGEx said.

MT Newswires 2022
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