Vancouver, British Columbia – (Newsfile Corp. – July 22, 2021) – Altaley Mining Company (TSXV: ATLY) (OTC Rose: ATLYF) (FSE: TSGA) (“Altaley“or the”Society“) is pleased to announce that the Company has signed a US $ 12 million loan facility agreement with Accendo Banco SA Institucion de Banca Multiple (” Accendo “) to complete the final part of its Accendo Syndicate financing plan previously announced US $ 25 million. provide a fully funded solution to complete construction and ramp-up of the 100% Telson-owned Tahuehueto Gold Mine Project (“Tahuehueto“).
The closing of the Accendo medium-term loan facility, which will be used by Altaley in stages with a first disbursement of US $ 3.2 million received on July 19e, 2021, also triggers a 2sd and the final advance payment of US $ 3 million under the Empress Royalty Corp. Silver Streaming Agreement. See press release of February 23rd, 2021.
“Closing this Accendo Medium-Term Credit Agreement, the last part of the financing of the Accendo Syndicate triggering the 2sd The Empress Royalty Silver Stream tranche complements our planned capital increase, paving the way for the finalization of our construction program at our flagship Tahuehueto gold mine project. Tahuehueto’s construction program is in full swing and making excellent progress and the closing of this Accendo loan agreement allows Altaley to accelerate construction, with the goal of allowing Tahuehueto to reach initial pre-production towards production. end of 2021, ”says Ralph Shearing, CEO. on behalf of the Company and our shareholders, I would like to thank our funders and partners, Accendo, Empress Royalty, the private placement investors, Trafigura, Nyrstar and Estrategica for the exceptional efforts of each to bring the financing to a close. Accendo Syndicate of US $ 25 million. “
|About the Accendo medium term loan facility|
|Amount of the loan||US $ 12 million (US $ 500,000 previously advanced)|
|Term||4 years (including 1 year grace period)|
|Refund||36 equal monthly payments|
|Second safety rating on all Tahuehueto assets|
Hear Ralph Shearing, CEO of Altaley, discuss this deal with Proactive Investors https://youtu.be/ct1GJg9nGQ4
ALTALEY MINING TO HOST A LIVE INVESTOR WEBINAR ON THURSDAY, JULY 27E At 2 p.m. ET
Altaley Mining is pleased to announce that Ralph Shearing, President and CEO, will present the Altaley corporate presentation in July 2021, including the production update of Campo Morado in the second quarter of 2021 and present the company’s short and long term plans during the webinar.
You are invited to register to join the webinar below:
Dated: Tuesday July 27e , Time: 2 p.m. ET
Register now: Webinar registration ( https://share.hsforms.com/14Xt4fVwqTcu2rMKNIAa3_A4h2fj )
About Altaley Mining Corporation
Altaley Mining Corporation is a Canada-based mining company with two 100% owned gold, silver and base metals mining projects in Mexico.
Altaley’s Tahuehueto Gold Mine Project is located in the northwestern state of Durango, Mexico, where construction has advanced to about 60% of completion. Upon closing of the announced US $ 25 million funding program, Altaley will have the funding to complete construction of its 1,000 tonne-per-day processing plant and related mining infrastructure to begin gold production. , silver, lead and zinc in concentrates in Tahuehueto. The Company aims for initial pre-production by the end of 2021 and ramp-up to full production capacity in the first quarter of 2022.
Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average rate of 2,150 tonnes per day and is currently estimated to be Mexico’s 6th largest zinc producer.
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P. Geol, CEO / Chairman and Director
CAUTION REGARDING PRODUCTION DECISIONS AND FORWARD-LOOKING STATEMENTS
Statements in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, disclosure regarding the planned resumption of mining operations at Campo Morado; and other possible financial events, conditions or performance which are based on assumptions about future economic conditions and action plans; the timing and costs of future activities on the Company’s properties, such as production rates and increases; the successful exploration, development and processing of bulk samples; and the processing schedule at its own mineral processing facility at the Tahuehueto project site. In some cases, forward-looking information may be identified using words and phrases such as “plans”, “expects”, “expected”, “estimates”, “forecasts”, “intentions”, ” anticipates ”or variations of these words and phrases. In preparing the forward-looking information in this press release, the Company has applied several important assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives relating to the Campo Morado mine and the Tahuehueto project can be achieved; that the resumption of operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Except as required by law, the Company assumes no obligation to publish any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information on Altaley Mining Corporation, please contact:
Corporate communications manager
Phone. : +1 (604) 684-8071