Maudore Closes on Senior Secured Loan with FBC and Sets Date for Annual and Special Meeting of Shareholders
MONTREAL, March 26, 2014 /CNW Telbec/ – Maudore Minerals Ltd. (“Maudore” or the “Company“) – (TSXV: MAO) (OTCBB: MAOMF) (FWB: M6L) – announces that, further to
its press release of March 14, 2014 setting out the terms of the
additional funding to be provided by FBC Holdings S.à.r.l (“FBC“), the required documentation has been completed in order to implement
the $4 million senior secured loan which FBC had agreed to make
available to Maudore’s wholly-owned subsidiary Aurbec Mines Inc. (“Aurbec“). These funds will be used by Aurbec for general corporate purposes
until such time that a meeting of the shareholders of Maudore can be
convened in order to obtain the approval of the shareholders of the
overall terms of the comprehensive funding package to be provided by
FBC (the “FBC Funding“).
The Company has established May 22, 2014 as the date for its annual and
special meeting of shareholders at which shareholders will be asked to
approve, among other matters, the FBC Funding. The Company expects that
the management proxy circular in connection with this meeting will be
mailed to shareholders in late April 2014.
Maudore is a Quebec-based junior gold company in production, with mining
and milling operations as well as more than 22 exploration projects.
Five of these projects are at an advanced stage of development with
reported current and historical resources and mining. Currently, gold
production is ramping up at the Sleeping Giant mine. The Company’s
projects span some 120 km, east-west, of the underexplored Northern
Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of
1,570 km², with the Sleeping Giant Processing Facility within trucking
distance of key development projects.
Cautionary Statement Regarding Forward-Looking Statements
This release and other documents filed by the Company contain
forward-looking statements. All statements that are not clearly
historical in nature or that necessarily depend on future events are
forward-looking, and the words “intend”, “anticipate”, “believe”,
“expect”, “estimate”, “plan” and similar expressions are generally
intended to identify forward-looking statements. These forward-looking
statements include, without limitation, performance and achievements of
the Company, business and financing plans, business trends and future
operating revenues. These statements are inherently uncertain and
actual achievements of the Company or other future events or conditions
may differ materially from those reflected in the forward-looking
statements due to a variety of risks, uncertainties and other factors,
including, without limitation, financial related risks, unstable gold
and metal prices, operational risks including those related to title,
significant uncertainty related to inferred mineral resources,
operational hazards, unexpected geological situations, unfavourable
mining conditions, changing regulations and governmental policies,
failure to obtain required permits and approvals from government
authorities, failure to obtain any required approvals of the regulatory
authorities or from shareholders or creditors, failure to obtain any
required financing, increased competition from other companies many of
which have greater financial resources, dependence on key personnel and
environmental risks and the other risks described in the Company’s
continuous disclosure documents.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Maudore Minerals Ltd.