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McFarlane Lake Announces Partial Redemption of Senior Secured Debentures Following Sale of West Hawk Lake and High Lake
TORONTO, ON / ACCESS Newswire / November 13, 2025 / McFarlane Lake Mining Limited (" McFarlane...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"McFarlane Lake Announces Partial Redemption of Senior Secured Debentures Following Sale of West Hawk Lake and High LakeTORONTO, ON / ACCESS Newswire / November 13, 2025 / McFarlane Lake Mining Limited (\"McFarlane\" or the \"Company\") (CSE:MLM)(OTCQB:MLMLF) is pleased to announce that, in accordance with the trust indenture dated September 29, 2025 (the \"Indenture\"), between the Company and Odyssey Trust Company (the \"Trustee\") and with the consent of a majority of the holders provided on October 24, 2025 waiving the Indenture's 60-day notice requirement for redemption, the Company submitted notice on November 11, 2025 of the early redemption of US$2,344,469 of its US$15,000,000 aggregate principal amount of 15% senior secured debentures maturing October 26, 2026 (the \"Debentures\"). The Debentures have been redeemed as of November 11, 2025 (the \"Redemption Date\"), in accordance with the terms of the Indenture.The Trustee will pay holders of Debentures a redemption amount of approximately US$167.92 for each US$1,000 principal amount of the Debentures, being equal to (i) US$156.30 and (ii) all accrued and unpaid interest hereon to but excluding the Redemption Date, inclusive of the early repayment premium required pursuant to the Indenture (collectively, the \"Redemption Price\").Under the Indenture, the October 28, 2025 West Hawk Lake and High Lake sale was considered a Permitted Asset Sale (as defined in the Indenture) of a secured asset, of which at least 50% of the Net Cash Proceeds (as defined in the Indenture) are to be applied to redeem the Debentures. The payment of US$2,344,469 against the Debentures represents 50% of the Net Cash Proceeds from the sale of West Hawk Lake and High Lake.Holders of the Debentures are encouraged to contact their investment dealer or the Trustee to coordinate the surrender of their Debentures. The Redemption Price will be payable in cash upon presentation and surrender to the Trustee of the Debentures called for redemption at #1230, 300 - 5th Avenue SW Calgary, Alberta, T2P 3C Attention: Corporate Trust.About McFarlane Lake Mining LimitedMcFarlane Lake Mining Limited is a Canadian gold exploration company focused on advancing its flagship Juby Gold Project, located near Gowganda, Ontario, within the established Abitibi Greenstone Belt. The Juby Project hosts a current (effective Septe...