Arranges Additional Debt Financing News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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The proceeds of this advance will be used by the Company to fulfill the initial tranche of the Salamander Mining International Ltd. loan and option agreement (see news release on June 17, 2021).
The additional advance has an 18-month term, with 70% of the advance payable in 12 months with 5% of the advance payable monthly in each of the last 6 months. The additional advance bears interest at 12% per annum and is subject to an implementation fee of 7%. The advance is secured by a guarantee from the Company and its wholly owned subsidiary, Pan Andean Capital Pty Ltd. (“Pan Andean”) and a pledge by Pan Andean of certain of the investments held by Pan Andean. ....

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