News
Cline Issues Additional Bonds Under Its Financial Restructuring
Thursday, April 11, 2013
TORONTO, April 11, 2013 /CNW/ - Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that, in accordance with the terms of the Company's financial restructuring announced on December 27, 2012 (the "Marret Plan"), certain investment funds advised by Marret Asset Management Inc. purchased US$2,500,000 of 10% secured bonds (the "Bonds") which have the same terms as the Company's other outstanding bonds.
The Company expects to use the US$2,500,000 proceeds from the Bonds for general corporate purposes, costs related to implementing the Marret Plan and for care and maintenance of its New Elk mine in Trinidad, Colorado. For the other principal terms of the Bonds and the Marret Plan, reference should be made to the Company's press release dated December 27, 2012.