VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 31, 2015) - Nevada Copper Corp. (TSX:NCU) (the "Company") is pleased to announce that it has extended the maturity date of its US$15 million bridge loan facility ("Loan Facility") with Pala Investments Limited ("Pala") to January 31, 2016 while also increasing the maximum principal amount of the Loan Facility to US$25 million. The other terms of the Loan Facility remain unchanged. The Loan Facility will be drawn down as required.
The Loan Facility is secured against the Company's assets, but is subordinate to the security granted in connection with the US$200 million senior credit facility with RK Mine Finance announced by the Company on December 30, 2014.
Giulio Bonifacio, President and CEO, comments: "This extension and increase of the bridge loan further confirms Pala's continued support as our largest shareholder. This support most importantly allows Nevada Copper to continue advancement of the Pumpkin Hollow Copper Project, while evaluating several financing and development options."
"In view of the capital markets and valuations in what has been an extremely challenging period in the mining sector, the support of Pala further enhances our ability to maximize value for all our shareholders."
Additional Information
For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbour.