Gold Resource Corporation Closes US$6.28M Debt Facility
Article content
DENVER — Gold Resource Corporation (NYSE American: GORO) (the 'Company'), along with its wholly owned subsidiary, Don David Gold Mexico ('DDGM'), is pleased to announce the execution of a loan agreement with Francisco Javier Reyes de la Campa and Jaluca Limited in the amount of US$6.28 million, to be used for working capital.
Article content
'The funds from this loan will allow us to develop and begin production from the new Three Sisters area of our Don David Gold Mine,' said Allen Palmiere, the Company's President and CEO. 'Additionally, we will be purchasing replacement mining equipment and funding upgrades in the mill. This loan and the proceeds of equity issuances earlier in the year provide us with the capital to execute on our plans to increase productivity and profitability.'
Article content
Article content
In connection with the loan agreement, the Company has also issued a common stock purchase warrant to an affiliate of Mr. Reyes de la Campa for the purchase of up to 1,500,000 shares of the Company's common stock at an exercise price per share of $0.65. The warrant is exercisable immediately upon issuance and expires on June 26, 2027. The warrant provides for customary adjustments in the event of stock dividends, splits and the like, and includes terms relating to the occurrence of a fundamental transaction, such as a merger, reorganization or recapitalization.
Article content
Key Facility Details
Article content
The key terms of the facility include the following:
Article content
About GRC:
Article content
Gold Resource Corporation is a gold and silver producer, developer, and explorer with its operations centered on the Don David Gold Mine in Oaxaca, Mexico. Base metals, critical to the United States, are also produced as a by-product. Under the direction of an experienced board and senior leadership team, the Company's focus is to unlock the significant upside potential of its existing infrastructure and large land position surrounding the mine in Oaxaca, Mexico and to develop the Back Forty Project in Michigan, USA.
Article content
Article content
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
an hour ago
- CTV News
‘This is a retroactive tax': Trump halts trade talks with Canada over digital services tax
Watch CTV's Colton Praill explains the collapse of digital tax talks, its goals, and why it may have angered former President Trump.
CTV News
an hour ago
- CTV News
Warren Buffett announces US$6 billion in donations to five foundations
Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., May 5, 2019. (AP Photo/Nati Harnik, File) NEW YORK — Famed investor Warren Buffett is donating $6 billion worth of his company's stock to five foundations, bringing the total he has given to them since 2006 to roughly $60 billion, based on their value when received. Buffett said late Friday that the shares of Berkshire Hathaway will be delivered on Monday. Berkshire Hathaway owns Geico, Dairy Queen and a range of other businesses, and Buffett is donating nearly 12.4 million of the Class B shares of its stock. Those shares have a lower and easier-to-digest price tag than the company's original Class A shares, and each of the B shares was worth $485.68 at their most recent close on Friday. The largest tranche is going to the Bill & Melinda Gates Foundation Trust, which will receive 9.4 million shares. The Susan Thompson Buffett Foundation will receive 943,384 shares, and the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation will each receive 660,366 shares. Buffett made waves a year ago when he said he plans to cut off donations to the Bill & Melinda Gates Foundation after his death and let his three children decide how to distribute the rest of his fortune. Berkshire Hathaway's Class B stock has climbed 19.1% over the last 12 months, topping the broad U.S. stock market's return of 14.1%, including dividends. Buffett is famous on Wall Street for buying companies at good prices and being more conservative when prices look too high. The bargain-hunting approach has helped him amass a fortune worth about $145 billion, with basically all of it in Berkshire Hathaway's stock. 'Nothing extraordinary has occurred at Berkshire; a very long runway, simple and generally sound decisions, the American tailwind and compounding effects produced my current wealth,' Buffett said in a statement. 'My will provides that about 99 1/2% of my estate is destined for philanthropic usage.'
CTV News
3 hours ago
- CTV News
Kirkland Lake hit by fourth water main break in a week
Some homes and businesses lost water service Friday after the town's fourth water main rupture in a week. The latest break hit Chateau Drive, following others on Al Wende Avenue and at Bloomfield Road. Mayor Stacy Wight said aging infrastructure is a known issue, with repairs slowed by funding gaps.
