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| Home : North American Tungsten Extends Loan Agreement With Callidus Capital Corporation |
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Jan 01
2015 |
North American Tungsten Extends Loan Agreement With Callidus Capital Corporation |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 31, 2014) - North American Tungsten Corporation Ltd. (TSX VENTURE:NTC) ("NTC" or the "Company") announces an amendment to the $11.0 million loan (the "Callidus Loan") with Callidus Capital Corporation ("Callidus") dated May 15, 2014. The amendment includes additional proceeds of $3.65 million and an extension of the repayment date for the loan balance to May 31, 2016. The Callidus Loan remains repayable on demand and bears interest at 18% per annum with interest payable monthly. Principal repayments of $150,000 per month will continue, with the remaining balance due at maturity. The Callidus Loan is secured by a first charge over substantially all assets of the Company, excluding the Mactung Project and all mining and mineral leases, claims and tenures related thereto. |
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| Source:http://www.marketwired.com/mw/release.do?id=1979946&sourceType=3 |
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