Auriant Mining AB (publ.) (the “Company”) is pleased to announce that it has reached an agreement with Golden Impala Limited on the new terms of the shareholder’s loan. Pursuant to the agreement, the convertible loan is replaced with a simple loan, and consolidated with the bond issued to Golden Impala Limited in 2015. The term of the new consolidated bond is extended from 31 December 2018 until 30 June 2019, while the interest rate remains at 2% per annum. The main terms of the new consolidated bond issued by the Company to Golden Impala Limited pursuant to the agreement are as follows:
- Amount: USD 36,576,653
- Maturity Date: 30 June 2019
- Interest rate: 2% per annum, subject to increase up to a market interest rate if the bond is not repaid by the new Maturity Date.
As a result of the transaction, Auriant Mining AB (publ.) no longer has any convertible debt.
Golden Impala Limited is a company controlled by Preston Haskell, a member of the Board of the Company. Golden Impala Limited indirectly (through Bertil Holdings Limited) owns 52.27% of shares in the Company.
Commenting on the agreement, Lord Daresbury, the Chairman of the Board, said “This transaction completes the restructuring of the convertible loan into a simple bond, contemplated in the recent Rights Issue. We are pleased that the majority shareholder has once again demonstrated his support for the Company by agreeing to extend the term of the loan while keeping the interest rate at the previous low level. This gives us additional confidence as we are entering the year 2018, when our focus will be on construction of the new CIL plant at Tardan. We will revisit the terms of the shareholders’ loan in 2019.”
For more information, please contact:
Sergey Ustimenko, CEO
tel: +7 495 109 02 82
e-mail: sergey.ustimenko@auriant.com
Company name: Auriant Mining AB
Short name: AUR
ISIN-code: SE0001337213
Website: www.auriant.com
Twitter: @auriantmining
Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solococon), one early stage exploration asset and one development asset.
Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR. For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50 or visit www.mangold.se.
This information is information that Auriant Mining AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on January 12th 2018
Cautionary Statement: Statements and assumptions made in this press release with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release does not constitute an offer to subscribe for shares in AUR, and shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.