Patagonia Gold Announces Increase to Loan Facility V.PGDC / $HGLD VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) --
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces it has entered into an agreement with Cantomi Uruguay S.A. (“Cantomi”) to increase the maximum aggregate amount of the Cantomi Loan (as defined below). The original loan facility, which Cantomi provided in February 2019 for US$15 million was subsequently amended and increased to US$20 million with a maturity date of December 31, 2024 (as amended, the “Cantomi Loan”). The agreement amending the Cantomi Loan provides that the maximum aggregate amount of the Cantomi Loan is increased to US$33 million. The funds from the increased Cantomi Loan will be used to refinance existing lines of credit to reduce interest costs and for general working capital purposes. Other than the amendment to increase the maximum amount of the Cantomi Loan, all other terms of the Cantomi Loan remain unchanged.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina.
$HGLD & $PGDC With One Of The Richest Highest Grade Silver Mine On Earth - Patagonia Gold & Silver Mines Hard Asset Safety Bargain --
Patagonia Gold Announces Increase to Loan Facility V.PGDC / $HGLD VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) --
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces it has entered into an agreement with Cantomi Uruguay S.A. (“Cantomi”) to increase the maximum aggregate amount of the Cantomi Loan (as defined below). The original loan facility, which Cantomi provided in February 2019 for US$15 million was subsequently amended and increased to US$20 million with a maturity date of December 31, 2024 (as amended, the “Cantomi Loan”). The agreement amending the Cantomi Loan provides that the maximum aggregate amount of the Cantomi Loan is increased to US$33 million. The funds from the increased Cantomi Loan will be used to refinance existing lines of credit to reduce interest costs and for general working capital purposes. Other than the amendment to increase the maximum amount of the Cantomi Loan, all other terms of the Cantomi Loan remain unchanged.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina.
$HGLD & $PGDC With One Of The Richest Highest Grade Silver Mine On Earth - Patagonia Gold & Silver Mines Hard Asset Safety Bargain --
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