Primero Extends Revolving Credit Facility to Facilitate Closing of Arrangement With First Majestic
May 01 2018 - 10:55AM
(Please note that all dollar amounts in this news release are
expressed in U.S. dollars unless otherwise indicated.)
Primero Mining Corp. (“Primero” or the “Company”)
(TSX:P) today announced that the Company has agreed to an extension
of its revolving credit facility (“RCF”) and the related guarantee
provided by Wheaton Precious Metals Corp., both previously maturing
on April 30, 2018, to the earlier of (i) May 15, 2018, (ii) the
closing of the business combination with First Majestic Silver
Corp. announced on January 12, 2018, and (iii) the seventh business
day following termination of the proposed business combination.
About Primero
Primero Mining Corp. is a Canadian-based
precious metals producer that owns 100% of the San Dimas
gold-silver mine in Mexico.
Primero’s website is
www.primeromining.com.
For further information, please contact:
Investor RelationsTel: (416)
814-3160info@primeromining.com
CAUTIONARY STATEMENT ON FORWARD-LOOKING
INFORMATION
This news release contains “forward-looking
statements”, within the meaning of applicable United States and
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. Forward-looking statements in this news
release include statements regarding the expected extension of the
Company’s revolving credit facility, the Company’s ability to
continue negotiations surrounding its previously announced
strategic review process and the possible divestiture of its San
Dimas mine. The assumptions made by the Company in preparing the
forward-looking information contained in this news release, which
may prove to be incorrect, include, but are not limited to: the
expectations and beliefs of management; the specific assumptions
set forth above in this news release; that negotiations will
continue regarding the Company’s strategic review process, or that
negotiations will result in any resolution acceptable to all
Primero stakeholders. Forward-looking statements are subject to
known and unknown risks, uncertainties and other important factors
that may cause the actual results, performance or achievements of
Primero to be materially different from those expressed or implied
by such forward-looking statements, including: the exchange rate
between the Canadian dollar and the United States dollar may
change; the Company may not be able draw down, re-finance or extend
its line of credit facility; the documentation to extend the credit
facility may not be timely completed; negotiations in connection
with the strategic process may be interrupted or may break down and
may not result in a resolution that is acceptable to all Primero
stakeholders. Certain of these factors are discussed in greater
detail in Primero’s registration statement on Form 40-F on file
with the U.S. Securities and Exchange Commission, and its most
recent Annual Information Form on file with the Canadian provincial
securities regulatory authorities and available at www.sedar.com.
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.