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| Home : Maya Gold & Silver Obtains a USD 6M Pre-Export Finance Facility From Scipion Capital for the Zgounder Silver Mine |
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Jan 30
2014 |
Maya Gold & Silver Obtains a USD 6M Pre-Export Finance Facility From Scipion Capital for the Zgounder Silver Mine |
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BLAINVILLE, QUÉBEC--(Marketwired - Jan. 30, 2014) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce that it has entered into a facility agreement with a fund managed by Scipion Capital Ltd. for a finance facility in a principal amount of USD6.0 million, of which USD3.5 million is immediately available. The initial facility is a 12 month loan maturing on January 31, 2015 with interest at 12%, and is repayable in 9 consecutive monthly instalments beginning on May 31, 2014 from the cash generated by the operations of Maya's Zgounder Silver Mine. Maya and Scipion have also agreed that the loan may be increased by a second USD2.5 million tranche, for an additional 12 month term, for an aggregate facility of USD6.0 million. |
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| Source:http://www.marketwired.com/mw/release.do?id=1874243&sourceType=3 |
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