Posted by goldwest > 2022-05-13 14:15 | Report Abuse

May 5, 2022 / Anaconda Mining Inc.is pleased to announce that it has entered into a promissory note with Auramet International LLC in connection with a senior secured loan whereby the Lender has provided the Company with a US$8 million loan facility . The net proceeds will be used for the repayment of the existing gold prepayment facility with Auramet and for general working capital purposes as the Company ramps back up to normal mining at Point Rousse operation. As per the Promissory Note, the Loan is due on the first anniversary of the Promissory Note, or May 5, 2023, and the Company may repay the Loan, in minimum incremental amounts of US1,000,000, either in whole or in part, from time to time without penalty. ABOUT AURAMET INTERNATIONAL LLC Auramet is one of the largest physical precious metals merchants in the world with over $22 billion in annual revenues and provides a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption including physical metals trading and merchant banking, working capital lending, plus royalties and streams. ABOUT ANACONDA Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the top-tier Canadian mining jurisdictions of Newfoundland and Nova Scotia