Atico Announces Amendment and Extension of US$10 Million Credit Facility
August 08 2024 - 3:30PM
UK Regulatory
Atico Announces Amendment and Extension of US$10 Million Credit
Facility
VANCOUVER, British Columbia, Aug. 08, 2024
(GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or
“Atico”) (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce that it
has entered into an amendment and restatement agreement with
Trafigura PTE. LTD. (the “Lender”) to amend the US$ 10 million
credit agreement entered into with the Lender in February 2022 (see
Atico’s press release dated February 9, 2022), by extending the
maturity date of the credit facility from August 8, 2024, to July
31, 2026, with the following principal repayment schedule:
- US$ 650,000 due on January 31,
2025, and April 30, 2025;
- US$ 700,000 due on July 31,
2025;
- US$ 950,000 due on Oct 31, 2025,
January 31, 2026, and April 30, 2026; and
- US$ 5,150,000 due on July 31,
2026;
The outstanding principal will bear interest at
a rate of SOFR plus 7.5%.
About Atico Mining
Corporation
Atico is a growth-oriented Company, focused on
exploring, developing and mining copper and gold projects in Latin
America. The Company generates significant cash flow through the
operation of the El Roble mine and is developing its high-grade La
Plata VMS project in Ecuador. The Company is also pursuing
additional acquisition of advanced stage opportunities. For more
information, please
visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
No securities regulatory authority has
either approved or disapproved of the contents of this news
release. The securities being offered have not been, and will not
be, registered under the United States Securities Act of 1933, as
amended (the ‘‘U.S. Securities Act’’), or any state securities
laws, and may not be offered or sold in the United States, or to,
or for the account or benefit of, a "U.S. person" (as defined in
Regulation S of the U.S. Securities Act) unless pursuant to an
exemption therefrom. This press release is for information purposes
only and does not constitute an offer to sell or a solicitation of
an offer to buy any securities of the Company in any
jurisdiction.
Cautionary Note Regarding Forward
Looking Statements
This announcement includes certain
“forward-looking statements” within the meaning of Canadian
securities legislation. All statements, other than statements of
historical fact, included herein, without limitation the use of net
proceeds, are forward-looking statements. Forward- looking
statements involve various risks and uncertainties and are based on
certain factors and assumptions. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company’s expectations include
uncertainties relating to interpretation of drill results and the
geology, continuity and grade of mineral deposits; uncertainty of
estimates of capital and operating costs; the need to obtain
additional financing to maintain its interest in and/or explore and
develop the Company’s mineral projects; uncertainty of meeting
anticipated program milestones for the Company’s mineral projects;
and other risks and uncertainties disclosed under the heading “Risk
Factors” in the prospectus of the Company dated March 2, 2012 filed
with the Canadian securities regulatory authorities on the SEDAR+
website at www.sedarplus.com
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