TMAC Resources revises credit facility

14 July 2017

TMAC Resources Inc. has entered into a term sheet with Sprott Private Resource Lending to provide for total borrowings of US$160 million. The approximately US$30 million of additional funds allow TMAC to finance the significant, seasonal expenses incurred during the summer sealift period and the revisions to the term and repayment schedule of the existing senior secured term loan facility credit agreement entered into in July 2015 accommodates the company’s plans to develop the Madrid and Boston deposits over the next five years.