Titan Mining Announces US$10M Bridge Loan
April 16 2024 - 6:30AM
Titan Mining Corporation
(TSX:TI)
(“
Titan” or the “
Company”) is
pleased to announce a US$10M bridge loan from the Company’s largest
shareholder, Augusta Investments Inc. (“
Augusta
Investments”). Proceeds from this loan have been used to
repay part of the Company’s current credit facility with the
National Bank of Canada (“
NBC”) bringing the
outstanding amount down from $27.2 million to $17.2 million
following the payment to NBC. The Company and Augusta Investments
are in ongoing negotiations regarding terms of this loan and of the
US$5M advance made by Augusta Investments earlier this year.
About Titan Mining
Corporation
Titan is an Augusta Group company which produces
zinc concentrate at its 100%-owned Empire State Mine located in New
York state. Titan is built for growth, focused on value and
committed to excellence. For more information on the Company,
please visit our website at www.titanminingcorp.com.
ContactFor further information,
please contact:Investor Relations: Email:
info@titanminingcorp.com
Cautionary Note Regarding
Forward-Looking Information
Certain statements and information contained in
this news release constitute "forward-looking statements", and
"forward-looking information" within the meaning of applicable
securities laws (collectively, "forward-looking statements"). These
statements appear in a number of places in this news release and
include statements regarding our intent, or the beliefs or current
expectations of our officers and directors, including that the
Company and Augusta Investments are in ongoing negotiations
regarding terms of the loan announced in this news release and of
the US$5M advance made by Augusta Investments earlier this year.
When used in this news release words such as “to be”, "will",
"planned", "expected", "potential", and similar expressions are
intended to identify these forward-looking statements. Although the
Company believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements since
the Company can give no assurance that such expectations will prove
to be correct. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to vary materially from those anticipated in such
forward-looking statements, including the risks, uncertainties and
other factors identified in the Company's periodic filings with
Canadian securities regulators. Such forward-looking statements are
based on various assumptions, including assumptions made with
regard to the Company and Augusta Investments being able to agree
to commercial terms for the loans; and receipt of all necessary
approvals for the loans. While the Company considers these
assumptions to be reasonable, based on information currently
available, they may prove to be incorrect. Except as required by
applicable law, we assume no obligation to update or to publicly
announce the results of any change to any forward-looking statement
contained herein to reflect actual results, future events or
developments, changes in assumptions or changes in other factors
affecting the forward-looking statements. If we update any one or
more forward-looking statements, no inference should be drawn that
we will make additional updates with respect to those or other
forward-looking statements. Readers should not place undue
importance on forward-looking statements and should not rely upon
these statements as of any other date. All forward-looking
statements contained in this news release are expressly qualified
in their entirety by this cautionary statement.
Titan Mining (TSX:TI)
Historical Stock Chart
From Nov 2024 to Dec 2024
Titan Mining (TSX:TI)
Historical Stock Chart
From Dec 2023 to Dec 2024