Three Valley Copper Corp V.TVC.H

RE:The debt term -

[jetfuel10X]

As per last release - the net proceeds was not entierly transfer to MTV by April 30th 2022; 


The Lenders will cease to be bound by the Undertaking should the Company not invest the net proceeds received from CAD$16.0 million of the Bought-Deal Financing into MTV between the closing of the financing on November 25, 2021 and April 30, 2022, if an event of default occurs under the Amended Facility other than a Specified Event of Default, or if the Company and the Lenders fail to enter into a definitive agreement by September 30, 2022, pursuant to which the loan repayment schedule in the Amended Facility is revised;

jetfuel10X wrote: If no deal - TVC will keep the 7m usd;
Last week release was just TVC was exercise his right as per term;

On November 22, 2021, the Company and its subsidiaries executed an undertaking agreement (the "Undertaking") with the Lenders to execute a binding agreement to amend the loan repayment terms of the Amended Facility on or prior to September 30, 2022. Under the terms of the Undertaking the Lenders have agreed not to accelerate or enforce their rights or remedies under the Amended Facility should MTV fail to (i) make scheduled loan repayments on March 31, 2022, June 30, 2022 and September 30, 2022 and/or (ii) replenish the operating reserve account to reestablish the minimum reserve as required under the Amended Facility (each, a "Specific Event of Default"). As per the terms of the Undertaking, the forbearance period is from November 22, 2021 to October 1, 2022. The Undertaking also provides that the net proceeds of the Bought-Deal Financing will not be used to repay any of the loans outstanding under the Amended Facility during the forbearance period. The Lenders will cease to be bound by the Undertaking should the Company not invest the net proceeds received from CAD$16.0 million of the Bought-Deal Financing into MTV between the closing of the financing on November 25, 2021 and April 30, 2022, if an event of default occurs under the Amended Facility other than a Specified Event of Default, or if the Company and the Lenders fail to enter into a definitive agreement by September 30, 2022, pursuant to which the loan repayment schedule in the Amended Facility is revised;