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| Home : Imperial Announces New $50 Million Credit Facility |
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Jan 20
2015 |
Imperial Announces New $50 Million Credit Facility |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 19, 2015) - Imperial Metals Corporation (TSX:III) reports it has completed a new $50 million revolving second lien secured credit facility ("the Credit Facility") with the Bank of Montreal maturing on April 1, 2017. The terms and conditions of the Credit Facility are modelled after the $200 million senior secured credit facility completed by the Company on March 12, 2014, adjusted to reflect the second lien. Edco Capital Corporation ("Edco"), a company controlled by Mr. N. Murray Edwards, a significant shareholder of the Company, has guaranteed the Credit Facility. As consideration for the guarantee Edco will receive an annual fee of 2% of the loan amount payable monthly. |
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| Source:http://www.marketwired.com/mw/release.do?id=1984092&sourceType=3 |
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