RE:Dilution ContinuesDebt Re-financing and Liquidity Update
has agreed on terms to extend its current debt of under its senior secured line of credit facility agreement (the "Credit Facility") with ("Hale") for an additional 24 months. The parties are working on definitive documentation and the extension is subject to customary conditions. An additional will be made available under the Credit Facility on the satisfaction of conditions that the Company expects to be attainable (including the delivery of the final SMP). In consideration of the extension and other amounts advanced or forgone (including an additional in cash, the additional under the credit facility and a waiver of all fees except professional fees associated with the extension),
the Company has agreed to grant Hale a 1.5% net smelter return ("NSR") royalty on its Galena properties. Payment under the NSR would not commence while the Company remains in good standing under the Credit Facility and half of the NSR may be bought down within 18 months of the closing for .
https://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2013/US-Silver--Gold-provides-second-quarter-production-and-corporate-update/default.aspx