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Sandfire Resources America announces a fourth variation to its bridge loan agreement with its largest shareholder, Sandfire BC Holdings. The modification increases the borrowing capacity from US$40 million to US$50 million through one or more advances. The US$10 million increase in the credit facility maintains all other terms and conditions of the original Bridge Loan unchanged. No securities of the company will be issued under this agreement.
Sandfire Resources America annuncia una quarta modifica al suo accordo di prestito ponte con il suo principale azionista, Sandfire BC Holdings. La modifica aumenta la capacità di prestito da 40 milioni di dollari a 50 milioni di dollari attraverso uno o più anticipi. L’aumento di 10 milioni di dollari nella linea di credito mantiene inalterati tutti gli altri termini e condizioni del prestito ponte originale. Non verranno emessi titoli della società sotto questo accordo.
Sandfire Resources America anuncia una cuarta variación a su acuerdo de préstamo puente con su mayor accionista, Sandfire BC Holdings. La modificación aumenta la capacidad de préstamo de 40 millones de dólares a 50 millones de dólares a través de uno o más anticipos. El aumento de 10 millones de dólares en la línea de crédito mantiene todos los demás términos y condiciones del préstamo puente original sin cambios. No se emitirán valores de la compañía bajo este acuerdo.
샌드파이어 리소스 아메리카(Sandfire Resources America)는 최대 주주인 샌드파이어 BC 홀딩스(Sandfire BC Holdings)와의 브리지 론 계약에 대한 네 번째 수정안을 발표했습니다. 이 수정안은 대출 능력을 4천만 달러에서 5천만 달러로 늘립니다. 1천만 달러의 증액이 포함된 이번 신용 시설은 원래 브리지 론의 모든 조건을 변경 없이 유지합니다. 이 계약에 따라 회사의 증권은 발행되지 않습니다.
Sandfire Resources America annonce une quatrième modification de son contrat de prêt relais avec son principal actionnaire, Sandfire BC Holdings. La modification augmente la capacité d’emprunt de 40 millions de dollars à 50 millions de dollars par le biais d’une ou plusieurs avances. L’augmentation de 10 millions de dollars dans la facilité de crédit maintient tous les autres termes et conditions du prêt relais original inchangés. Aucun titre de la société ne sera émis dans le cadre de cet accord.
Sandfire Resources America kündigt eine vierte Änderung seines Brückendarlehensvertrags mit seinem größten Aktionär, der Sandfire BC Holdings, an. Die Änderung erhöht die Kreditaufnahme von 40 Millionen US-Dollar auf 50 Millionen US-Dollar durch eine oder mehrere Vorauszahlungen. Die Erhöhung um 10 Millionen US-Dollar in der Kreditfazilität hält alle anderen Bedingungen des ursprünglichen Brückendarlehens unverändert. Im Rahmen dieses Vertrags werden keine Wertpapiere des Unternehmens ausgegeben.
Positive
- Increased borrowing capacity by US$10 million to US$50 million total
- Secured additional funding without issuing new securities (no dilution)
Negative
- Increased debt obligation by US$10 million
- Growing dependence on major shareholder for financing
WHITE SULPHUR SPRINGS, Mont., Nov. 21, 2024 (GLOBE NEWSWIRE) — Sandfire Resources America Inc. (“Sandfire America” or the “Company”) announces that it has entered into a fourth variation agreement (the “Fourth Variation“) to its bridge loan agreement, as amended (the “Bridge Loan”) with Sandfire BC Holdings (Australia) Pty Ltd. (“Sandfire BC“), the Company’s largest shareholder, and Tintina Montana Inc., a wholly-owned subsidiary of the Company (“Tintina Montana“).
Pursuant to the Fourth Variation, the amount available to be borrowed under the Fourth Variation and Bridge Loan will be increased from an aggregate of up to US$40 million to an aggregate of up to US$50 million through one or more advances, subject to the terms of the Fourth Variation and the Bridge Loan.
All other terms and conditions of the Bridge Loan shall remain in full force and effect, except as amended by the Fourth Variation. No securities of the Company are issuable under the Agreement.
Contact Information:
Sandfire Resources America Inc.
Nancy Schlepp, VP of Communications
Mobile: 406-224-8180
Office: 406-547-3466
Email: nschlepp@sandfireamerica.com
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this document constitute “forward looking information” within the meaning of Canadian securities legislation, including statements regarding the Agreement, the Company’s financing options and expected outcomes. In making these forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will receive required regulatory approvals, and that the Company will be able to secure additional funding to execute its plans, However, the forward-looking statements in this document are subject to numerous risks, uncertainties and other factors, including delays in obtaining or inability to obtain required government or other regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
FAQ
What is the new borrowing limit for Sandfire Resources America (SRAFF) under the fourth bridge loan variation?
Under the fourth variation agreement, Sandfire Resources America’s borrowing limit has been increased from US$40 million to US$50 million.
Will Sandfire Resources America (SRAFF) issue new securities under the fourth bridge loan variation?
No, the agreement specifically states that no securities of the company will be issued under this variation agreement.
Who is providing the increased bridge loan funding to Sandfire Resources America (SRAFF)?
The bridge loan funding is being provided by Sandfire BC Holdings (Australia) Pty , which is the company’s largest shareholder.
