News Column

Auriant Mining announces restructuring of shareholder debt

June 9, 2014

Auriant Mining AB has restructured the terms of the shareholder loan with Golden Impala, an entity affiliated to and controlled by Mr.Preston Haskell (Auriant Mining’s main shareholder), on the following terms. Effective 30 May 2014 the shareholder debt, which stood at US$ 40,987,923 (including accrued interest), and was originally due in June 2014, will have its maturity extended to 31 December 2018. Starting from May 2014 the interest rate is reduced to 10% per annum. The interest will be accrued and paid out at maturity. Commenting on the debt restructuring Denis Alexandrov, CEO of Auriant Mining, said “I am very glad to report that we have reached an agreement with our main shareholder regarding restructuring of the shareholder debt. The interest on the debt has been almost halved, and the term extended for 4 years. This, together with our new credit facility from Promsvyazbank, has improved the company’s debt profile and ensures that the Company has sufficient financing going forward. We are lucky to continue having such a supportive shareholder who is committed to Auriant Mining’s development.” For more information, please contact: Max Yacoub, CIO tel: +7 495 660 22 20 e-mail: max.yacoub@auriant.com Company name: Auriant Mining AB Short name: AUR ISIN-code: SE0001337213 Website: www.auriant.com Twitter: @auriantmining Postal and visiting address: Tulegatan 2 A, 113 58 Stockholm, Sweden Auriant Mining AB (AUR) is a Swedish junior mining company focused on gold exploration and production in Russia, primarily in Zabaikalye and the Republics of Khakassia and Tyva. The company has currently four assets, including two operating mines (Tardan and Solcocon) and two early stage exploration assets, one of which, Kara-Beldyr, is a joint venture with the major Canadian gold producer Centerra Gold. The group’s mineral licenses are estimated to contain almost 1,000,000 troy ounces of gold reserves according to the Russian standards (GKZ). Since July 19, 2010, Auriant Mining´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name AUR (before June 25, 2012 - under the short name CAG). For more information please visit www.auriant.com. Mangold Fondkommission is Certified Adviser to Auriant, for more information please call +46 8 503 015 50 or visit www.mangold.se. Cautionary Statement: Statements and assumptions made in this report with respect to Auriant Mining AB’s (“AUR”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of AUR. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where AUR operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) AUR’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. AUR assumes no unconditional obligation to immediately update any such statements and/or forecasts This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Auriant Mining AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country. Copyright © 2014 OMX AB (publ).


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: OMX


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters