Aldridge Minerals Inc. AGMIF

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Password: Save Aldridge Minerals Inc Symbol C : AGM Shares Issued 106,955,882 Close 2016-12-05 C$ 0.27 Recent Sedar Documents View Original Document Aldridge receives $3.6-million (U.S.) loan advance 2016-12-06 12:25 ET - News Release Mr. Han Ilhan reports ALDRIDGE ANNOUNCES RECEIPT OF LOAN ADVANCE Aldridge Minerals Inc. has received an advance of $3.6-million (U.S.) under its loan with Banka Kombetare Tregtare SHA (BKT) and resumed land acquisition purchases at its Yenipazar project in Turkey. This advance brings the total amount drawn to date under the loan to $33.6-million (U.S.). In September, 2016, the company entered into a definitive loan facility agreement with BKT, pursuant to which BKT agreed to make available to the company a two-year secured credit facility in the amount of up to $40-million (U.S.), including principal and interest to be capitalized. Based on the amount drawn to date under the loan, approximately $6.33-million (U.S.) of the facility is allocated to capitalized interest. The loan bears interest at an annual rate equal to the 12-month LIBOR (London interbank offered rate) plus 6 per cent, but not less than 9 per cent per year. Aldridge pays a loan administration fee of 1 per cent on all advances made under the loan. About Aldridge Aldridge is a development-stage mining company focused on its wholly owned and permitted Yenipazar polymetallic VMS (volcanogenic massive sulphide) project (gold, silver, copper, lead and zinc) in Turkey. The company is currently advancing the Yenipazar project on key aspects, including land acquisition, engineering, and interim and project financing. https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aAGM-2428746&symbol=AGM®ion=C