On February 20, 2018, Amarillo Gold Corporation (TSXV: AGC) announced that it had amended and extended its existing gold-linked credit facility, extending the maturity of the facility from July 31, 2019 to June 30, 2022. The other terms and conditions will remain the same.
On July 31, 2014, Amarillo entered into the facility for the purpose of financing the company and consolidating many of the company’s then current obligations into a single structure. Following the extension of the maturity date, the facility must be repaid on the earliest of: (i) a change of control of the company; (ii) three months following a declaration of commercial production at the company’s Mara Rosa Project; and (iii) June 30, 2022.
Amarillo Gold is developing a highly economic, open pit gold resource at its Mara Rosa deposit in Goias State in Brazil. In addition, the company has an advanced exploration project at Lavras do Sul, in the State of Rio Grande do Sul.
Miller Thomson advised Amarillo Gold in the negotiation of the amended and extended credit facility with a team that included Geoff Clarke and Jonathan Tong (corporate/securities/mining) and David Reynolds (financial services).