Huldra Silver Inc. announces completion of agreement to extend its Debt Facility
VANCOUVER, B.C., June 28, 2013 – Huldra Silver Inc. (“Huldra” or the “Company“) is pleased to announce that it has completed its agreement to extend its debt facility with Waterton Global Value, L.P.(“Waterton“).
The Company and Waterton have agreed to eliminate all monthly payment obligations and delay the payment of all obligations under the Credit Facility until October 31, 2013. The Company will be required to pay a lump sum of approximately $7.24 million on October 31, 2013.
In the event that silver prices exceed U.S.$32 per ounce upon repayment, there will be additional “profit participation” amounts owing as required by the Credit Facility. The Company will not be required to issue the 2.55 million warrants as originally disclosed in the press release of June 25, 2013. The agreement is subject to approval of the TSX Venture Exchange.
In addition, the Company continues to pursue financing options in order to recommence operations at both the mine and mill and has commenced negotiations to extend the term of the convertible debentures that it issued in January and February, 2013.
On behalf of the Board of Directors:
CFO & Director
For additional information contact:
Garth Braun at 604-647-0142
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.