Atico Mining Updates $10 Million Credit Deal
- Atico Mining Corporation has amended its existing credit agreement with Trafigura PTE for $10 million.
- This update indicates a significant partnership aimed at bolstering financial support for the company's operations.
- Such financial arrangements reflect the ongoing investment interest in the mining sector in British Columbia.
VANCOUVER, British Columbia, Aug. 08, 2024 – Atico Mining Corporation has announced a significant amendment to its existing credit agreement with Trafigura PTE. LTD. The agreement, originally established in February 2022 for US$ 10 million, has been modified to extend the maturity date from August 8, 2024, to July 31, 2026. This extension is part of Atico's strategy to enhance its financial flexibility as it continues to focus on growth in the mining sector. Under the revised terms, Atico will make a principal repayment of US$ 700,000 due on July 31, 2025. The outstanding principal will accrue interest at a rate of SOFR plus 7.5%. This financial maneuver is expected to support Atico's ongoing efforts in exploring and developing copper and gold projects across Latin America, as well as its pursuit of additional advanced-stage acquisition opportunities. Fernando E. Ganoza, representing Investor Relations, emphasized the importance of this agreement in bolstering the company's operational capabilities. Atico Mining is committed to advancing its projects and enhancing shareholder value through strategic financial management. The announcement also included a cautionary note regarding forward-looking statements, clarifying that the information provided is for informational purposes only and does not constitute an offer to sell or solicit any securities. The TSX Venture Exchange and its Regulation Services Provider have not taken responsibility for the accuracy of this release.