Common Contracts

TMAC Resources Amends Credit Agreement

Credit Agreement • April 30th, 2019

• Contract Type
  Credit Agreement
• Filed
  April 30th, 2019

TORONTO, April 30, 2019 /Business Wire/ – TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) has signed an amendment to its amended and restated credit agreement entered into on July 26, 2017 (the “Credit Agreement”) with Sprott Private Resource Lending (Collector), LP and associated lenders (the “Sprott Lenders”). The outstanding principal is US$117 million after repaying an additional US$8.8 million during the first quarter of 2019. The amendment eliminates all principal payments until April 1, 2020, totalling US$26 million (approximately C$35 million). Quarterly principal repayments of US$2.5 million are scheduled to recommence on April 1, 2020. The remaining principal balance is due on December 31, 2020, with TMAC having an option to extend the term by six months to June 30, 2021.