Mercator Closes Previously Announced US$130 million of Senior Secured Credit Facilities and Concurrently Issues Notice of Redemption of its 11.5% Senior Secured Notes due February 16, 2012
Societe Generale and WestLB AG are the Joint Bookrunners of the Credit Facilities with Lead Arrangers Societe Generale (Documentation and Administrative Agent), WestLB AG (Technical Agent), Credit Suisse and Barclays Capital (collectively, the “Lenders”).
The Credit Facilities are comprised of a
The Notice of Redemption states that the Company will redeem the outstanding
Further details concerning the Notes including the rights of redemption are described in the trust indenture dated
“We consider this refinancing a milestone in the evolution of Mercator Minerals as a growing mid tier North American copper and molybdenum producer”, said
About Mercator Minerals Ltd.
Mercator Minerals Ltd. is a TSX listed mining company with an experienced management team that has brought the mill expansion at the Mineral Park Mine, one of the largest and most modern copper-moly mining-milling operations in
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Forward Looking Information
This press release contains certain forward-looking statements, which include estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the use of proceeds, the completion of the transaction, the size and quality of the Company’s mineral reserves and mineral resources, future production, capital and mine production costs, demand and market outlook for commodities, and the financial results of the Company and discussions of future plans, projections and objectives. In addition, estimates of mineral reserves and resources may constitute forward looking statements to the extent they involve estimates of the mineralization that will be encountered if a property is developed. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary. Factors that may cause actual results to vary include, but are not limited to, certain transactions, certain approvals, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials and equipment, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. These risks are described in more detail in the Annual Information Form of the Company. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this report or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. For a more complete discussion, please refer to the Company’s audited financial statements and MD&A for the year ended
SOURCE Mercator Minerals Ltd.