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| Home : First Nickel Inc. Announces Restructuring of Indebtedness |
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Apr 01
2013 |
First Nickel Inc. Announces Restructuring of Indebtedness |
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TORONTO, ONTARIO--(Marketwire - April 1, 2013) - First Nickel Inc. ("FNI" or the "Company") (TSX:FNI) announces that it has entered into agreements with its lenders to restructure all of the Company's existing indebtedness (the "Refinancing"). The Refinancing includes an increase in the principal amount of the revolving credit facility (the "BNS Facility") with The Bank of Nova Scotia ("BNS") from US$10 million to US$15 million and the extension of the maturity dates for the BNS Facility and the Company's loan agreements with each of Resource Capital Fund IV L.P. ("RCF IV"), Resource Capital Fund V L.P. ("RCF V" and together with RCF IV, "RCF") and a fund managed by West Face Capital Inc. ("West Face"). RCF and West Face are insiders of the Company and were insiders of the Company at the time of entering into the loan agreements with RCF V and West Face. |
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| Source:http://www.marketwire.com/mw/release.do?id=1773691&sourceType=3 |
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