Primero Secures $75 Million Revolving Line of Credit
26 Maio 2014 - 8:00AM
Marketwired
Primero Secures $75 Million Revolving Line of Credit
(Please note that all dollar amounts in this news release are
expressed in U.S. dollars unless otherwise indicated.)
TORONTO, ONTARIO--(Marketwired - May 26, 2014) - Primero Mining
Corp. ("Primero" or the "Company") (TSX:P) (NYSE:PPP) announced
today that it closed a previously announced $75 million revolving
credit facility (the "Line of Credit") with a syndicate of lenders.
The Line of Credit has a three year term, a floating interest rate
that the Company expects to be approximately 4% per annum for the
first six months and is secured by a charge over substantially all
of the Company's assets. Coincident with and as a condition of
closing the Line of Credit, the Company repaid the outstanding $27
million promissory note held by Goldcorp Inc. bearing interest of
6% and originally due December 31, 2015.
About Primero
Primero Mining Corp. is a Canadian-based precious metals
producer that owns 100% of the San Dimas gold-silver mine and the
Cerro del Gallo gold-silver-copper development project in Mexico
and 100% of the Black Fox mine and adjoining properties in the
Township of Black River‐Matheson near Timmins, Ontario, Canada.
Primero offers immediate exposure to un-hedged, below average cash
cost gold production with a substantial resource base in
politically stable jurisdictions. The Company is focused on
becoming a leading intermediate gold producer by building a
portfolio of high quality, low cost precious metals assets in the
Americas. Primero's website is www.primeromining.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains "forward-looking statements", within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities legislation,
concerning the business and operations of Primero Mining Corp. and
its consolidated subsidiaries (collectively, "Primero" or the
"Company"). All statements, other than statements of historical
fact, are forward-looking statements. Generally, forward-looking
statements can be identified by the use of forward-looking
terminology such "expects" or "expected" or variations of such
words and phrases such as "approximately" or statements that
certain actions, events or results or the negative connotation
thereof. Certain forward looking information is identifiable by its
context and may be expressed in the present tense including
references to anticipated benefits of future events or current
matters that are continuing.
Forward-looking statements in this news release include, but are
not limited to, statements regarding the Company's credit
facility's expected interest rate per annum and the Company's
intentions to become an intermediate gold producer.
Should one or more of these risks and uncertainties materialize,
or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking
statements. In addition, although Primero has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Forward-looking statements are made as of the date hereof and
accordingly are subject to change after such date. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans and allowing
investors and others to get a better understanding of our operating
environment. Primero does not undertake to update any
forward-looking statements that are included in this document,
except in accordance with applicable securities laws.
Tamara BrownVP, Investor Relations(416) 814
3168tbrown@primeromining.com
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