Metanor Amends Loan Agreement Metanor Amends Loan Agreement
VAL-D'OR, QUEBEC--(Marketwired - Feb. 27, 2014) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce that it has reached an agreement with Ressources Quebec (affiliate of Investissement Quebec) in regards to the loan agreement entered into April 16, 2012.
Metanor will now have until March 31, 2015 to repay the loan (prior deadline for the repayment in full of the loan was April 30, 2014) and the capital balance, now at $ 5,333,333 and bearing interest at 12%, will be repaid by monthly installments. Please see the website www.sedar.com for more details on the terms.
Ghislain Morin, President and CEO stated: "We are very happy with the new terms which provide us with the required flexibility to develop our mining assets and we also thank our financial partners for their confidence and support."
Cautionary Language and Forward-Looking Statements
All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
267,266,066 outstanding shares
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca