Golden Queen Mining Consolidated Ltd. (fka GQMNF)

[ALERTS100%to10000%GAIN]

GQMNF~~RESTRUCTURING OF THE NOVEMBER 2016 LOAN AGREEMENT

The Company and certain lenders that are associated with the Clay family entered into an amended and restated loan agreement in November of 2016 relating to a term loan facility in the principal amount US$31 million. The Company and the lenders have entered into a letter of intent to amend certain repayment terms under the loan agreement. The amendment would reduce quarterly principal payments due on April 1, July 1, and October 1 of 2018, and January 1 of 2019 from US$2.5 million to US$1.0 million. The letter of intent also provides for an extension of all payments that are due on January 1, 2018 to the earlier of the date of completion of the Offering or February 15, 2018. As part of the restructuring of the debt the interest rate will be increased from 8% to 10% commencing January 1, 2018, and the Company agreed to pay a restructuring fee of US$400,000 to the lenders. The transactions contemplated in the letter of intent are subject to the parties entering into a formal amendment agreement.