Iberian Minerals Arranges Financing for Raul Purchase
10 3월 2010 - 10:30PM
Marketwired
Iberian Minerals Corp. (TSX VENTURE: IZN) is pleased to announce
that its subsidiary, Compania Minera Condestable S.A.
("Condestable") has entered into a mandate letter dated March 8,
2010 with Societe Generale to arrange an amended senior, secured
debt facility. The proposed facility will provide funding for the
completion of the Raul lease and royalty purchase, as previously
announced on December 23, 2009, which is scheduled to close not
later than March 31, 2010.
Currently, the senior debt financing at Condestable held by a
syndicate of banks, including Societe Generale has a balance due of
US$ 25.4 million with maturity date of February 28t, 2011. It is
intended that the total facility, as amended, will increase to US$
55 million and extend its maturity until March 31, 2013. The
closing for the facility remains subject to execution of definitive
documentation.
About Iberian Minerals Corp.
Iberian Minerals Corp. is a Canadian listed global base metals
company with interests in Spain and Peru. The Condestable Mine,
located in Peru approximately 90 km south of Lima, operates at 2.2
million tonnes per year producing copper, and associated silver and
gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia
region of Spain approximately 110 km north-west of Seville and
operates a 1.7 million tonnes per year underground mine and
concentrator that produces copper, zinc and bulk copper/lead
concentrates that also contain gold and silver.
FORWARD LOOKING STATEMENTS:
This news release contains certain "forward-looking statements"
and "forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "plan", "except", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Assumptions upon which such
forward-looking statements are based included that all required
third party regulatory and governmental approvals will be obtained.
Many of these assumptions are based on factors and events that are
not within the control of Iberian and there is no assurance they
will prove to be correct. Factors that could cause actual results
to vary materially from results anticipated by such forward-looking
statements include changes in market conditions and other risk
factors discussed or referred to in the annual Management's
Discussion and Analysis and Annual Information Form for Iberian
filed with the applicable securities regulatory authorities and
available at www.sedar.com. Although Iberian has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Iberian undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Iberian Minerals Corp. Laura Sandilands Investor
Relations and Corporate Communications 416-815-8558
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