Copper King Mining Corporation fka CPRKQ

[aether]

MILFORD, UT--(Marketwire - 06/18/09) -" Copper King Mining Corporation (Pinksheets:CPRK - News) ("Copper King" or the "Company") provided an update today on its operations and plans for establishing a lower-cost, long-term capital structure. As an important first step in its financing plans, the Company announced today that it has entered into loan modification agreements with all of its lenders having security interests in its mill and certain other assets. A key feature of these agreements is the extension of their maturity dates until January of 2010. The Company believes the extensions in maturity will provide ample time for it to refinance its entire balance sheet with long-term, lower cost institutional debt appropriate for a producing mining company. The Company believes its prospects for a refinance at lower rates are now substantially improved with the commencement of production at its mill and the near term achievement of a positive cash flow from operations."

The company already told us they have until January 2010.