RE:RE:Certain Posters Ignore the PastThe Company has
signed a credit agreement with as security agent, and certain lenders
for the issuance of CDN notes (the "Notes") with a three-year term. The Notes carry a comparable annual
interest rate of 12%, payable monthly, and are secured by a first charge on all material assets of the Company.
Beginning two years following the date of issue, the Notes will be redeemed in monthly increments of with the balance due and payable on maturity. The debt may be repaid at any time during the three-year term, subject to a repayment fee.
In connection with closing the transaction, the Company will issue 10,625,000 warrants.Each warrant allows the holder to purchase one of the Company's common shares for a five-year term, and will be issued with an exercise price of , subject to downward adjustment in certain circumstances
https://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2013/US-Silver--Gold-Inc-announces-agreement-to-replace-existing-debt/default.aspx