Three Valley Copper Announces Senior Debt Forbearance Agreement Undertaking
TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) -- (TSXV: TVC) Three Valley Copper Corp. (“Three Valley Copper” or the “Company”) announces that an undertaking (the “Undertaking”) has been entered into between the Company and the senior secured lenders (the “Lenders”) of Minera Tres Valles (“MTV”), the Company’s primary asset that is 91.1% owned located near Salamanca, Region de Coquimbo, Chile.
- As per the terms of the Undertaking, the forbearance period is from November 22, 2021, to October 1, 2022 (the Forbearance Period).
- This Undertaking also provides that the proceeds of the recently announced bought-deal financing of C$16 million (the Offering) will not be used to repay any of the loans outstanding under the Facility Agreement during the Forbearance Period.
- "Our senior lenders continue to work as partners with us, stated Michael Staresinic, President and CEO.
- Three Valley Copper, headquartered in Toronto, Ontario, Canada is focused on growing copper production from, and further exploration of, its primary asset, Minera Tres Valles.