On June 9, 2017, Jaguar Mining Inc. (TSX: JAG) closed a US$5 million secured loan facility with Sprott Private Resource Lending (Collector) LP.
The financing is for a term of 36 months with an interest rate of 6.5% per annum, plus the greater of US dollar LIBOR and 1.25% per annum. In partial consideration for providing the financing commitment, Jaguar Mining issued 375,000 common shares to the lender, subject to a four month hold period.
Jaguar Mining is a junior gold mining, development, and exploration company operating in Brazil.
Miller Thomson acted for Jaguar Mining in this transaction with a team that included Geoff Clarke, David Reynolds, Jonathan Tong and Shaun Parekh.