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TVI Pacific's 30.66% owned TVIRD Closes US $30 million Term Loan Facility Through GRC for its Siana Gold Mine
TVI Pacific's 30.66% owned TVIRD Closes US $30 million Term Loan Facility Through GRC for its Sia...
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[{"type":"text","content":"\n \n \n \n TVI Pacific's 30.66% owned TVIRD Closes US $30 million Term Loan Facility Through GRC for its Siana Gold Mine\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Dec. 28, 2023\n \n \n /CNW/ - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) (\"\n \n TVI\n \n \" or \"\n \n the Company\n \n \") is pleased to announce that Greenstone Resources Corporation (\n \n \"GRC\"\n \n ), the owner and operator of the Siana Gold mine (\n \n \"Siana\"\n \n ) and an entity wholly owned by TVI Resource Development Phils., Inc. (\"\n \n TVIRD\n \n \"), a\n \n Philippines\n \n corporation in which TVI holds a 30.66% interest, has closed an Omnibus Loan and Surety Agreement (\"\n \n OLSA\n \n \") with China Banking Corporation (the \"\n \n Lender\n \n \") providing for a US\n \n $30 million\n \n principal amount term loan facility (the \"\n \n Facility\n \n \"), the proceeds of which shall be used to partially finance its 3,000 metric tons per day (\"\n \n MTPD\n \n \") Siana mine.\n \n \n \n GRC Financing Highlights\n \n \n \n \n US\n \n $30 million\n \n Facility concluded with China Banking Corporation.\n \n \n Five (5) year term with a fixed interest rate per annum (\n \n \"pa\"\n \n ) for the first two (2) years that shall be repriced on the second anniversary from the initial drawdown date.\n \n \n Repayable in fifteen (15) equal quarterly installments to start at the end of the sixth (6\n \n th\n \n ) quarter from the initial drawdown date.  Interest is payable starting at the end of the first quarter from the initial drawdown date.\n \n \n \n \n GRC Financing\n \n \n \n The Facility is a five (5) year term loan facility from the Lender in the aggregate principal amount of up to US\n \n $30 million\n \n , the proceeds of which shall be used to partially finance GRCs 3,000 MTPD Siana mine.\n \n \n GRC has elected to apply a fixed interest rate for the first two years of any amounts borrowed through the Facility that shall be based on the sum of the bench...