VANCOUVER, July 5, 2018 /PRNewswire/ - Alio Gold Inc
(TSX: ALO) (NYSE AMERICAN: ALO) ("Alio Gold" or the "Company"),
is pleased to announce that it has restructured the existing debt
facility, with Macquarie Bank Limited ("Macquarie"), which was
scheduled to be repaid in December
2018. As of June 30, 2018 the
outstanding principal of $15 million
will be repaid, in twelve quarterly payments of $1.25 million in principal together with accrued
interest, ending in June 2021. The first principal and
interest payment will be made September 30,
2018. The facility has an interest rate of LIBOR + 8% and is
secured by a general security agreement and guarantee by
Alio Gold.
"We are pleased to have the restructuring of the debt facility
completed," said Greg McCunn, Chief
Executive Officer. "Macquarie has demonstrated their
commitment to support Alio as we advance the Florida Canyon mine to
a steady state production level. The restructuring provides
us with the financial flexibility to focus on operational
efficiencies to reduce costs."
About Alio Gold
Alio Gold is a growth oriented
gold mining company, focused on exploration, development and
production in Mexico and the
USA. Its principal assets include its 100%-owned and operating
San Francisco Mine in Sonora,
Mexico, its 100%-owned and operating Florida Canyon Mine in
Nevada, USA and its 100%-owned
development stage Ana Paula Project in Guerrero, Mexico. Located within the highly
prospective Guerrero Gold Belt on
56,000 hectares of underexplored land the Ana Paula Project is a
high-grade, high margin project currently in the definitive
feasibility stage. An underground decline to provide access for an
exploration drill program has been initiated. The drill program
will target the continuation of the high-grade gold mineralization
below the proposed pit which has the potential to significantly
enhance the robust economics of the project. The Company also has a
portfolio of other exploration properties located in Mexico and the USA.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) nor the New York Stock
Exchange MKT accepts responsibility for the adequacy or accuracy of
this news release.
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SOURCE Alio Gold
