Constantine Announces Loan Agreement

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Vancouver, British Columbia--(Newsfile Corp. - October 11, 2019) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") is pleased to announce that it has entered into a loan facility agreement (the "Loan Agreement") with Inter World Investments (Canada) Ltd. (the "Lender") dated October 10, 2019 for an unsecured loan facility of US$667,800 (the "Loan").

The Loan will have a term of five years, subject to acceleration upon the occurrence of certain events, and will bear interest at a rate of 12% per annum. The Lender is an arm's length party to the Company. The purpose of the Loan is to allow the Company to meet expenditure requirements in connection with the Palmer Project in southeast Alaska.

As consideration for the Loan, the Company will issue to the Lender, at the Lender's election, either:

  • 572,756 common shares of the Company ("Bonus Shares"); or

  • 2,863,784 warrants ("Bonus Warrants"), with each Bonus Warrant exercisable to purchase one common share of the Company at a price of $0.31 for a period of five years,

pursuant to TSX Venture Exchange ("TSX-V") Policy 5.1 - Loans, Loan Bonuses, Finder's Fees and Commissions and subject to the approval of the TSX-V. Any securities issued in connection with the Loan Agreement will be subject to a statutory four month hold period.

In connection with the Loan Agreement, Constantine will also pay a loan facility fee of US$30,000 (the "Loan Facility Fee") to RCI Capital Group Inc. ("RCI") in consideration and recognition of RCI introducing Constantine to the Lender and otherwise facilitating the Loan. The Loan Facility Fee is also subject to the approval of the TSX-V.

About Constantine

Constantine is a mineral exploration company led by an experienced and proven technical team with a ‎focus on premier North American mining environments. The Company's flagship asset is the Palmer ‎Project, a high-grade volcanogenic massive sulphide-sulphate (VMS) project being advanced as a joint ‎venture between Constantine (51%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as ‎operator. Management is committed to providing shareholder value through discovery, meaningful ‎community engagement, environmental stewardship, and responsible mineral exploration and ‎development activities that support local jobs and businesses.‎

Please visit Constantine's website (www.constantinemetals.com) for more detailed company and project ‎information.‎

On Behalf of Constantine Metal Resources Ltd.

"Garfield MacVeigh"

President & CEO

For further information please contact:

Naomi Nemeth, VP Investor Relations
Phone: 604-629-2348. Email: [email protected]

Neither the 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.‎

Forward looking statements: This news release includes certain "forward-looking information" within the ‎meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the ‎United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). ‎Forward-looking statements include predictions, projections and forecasts and are often, but not always, ‎identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", ‎‎"potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", ‎‎"will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the ‎negatives thereof. All statements other than statements of historical fact included in this release, including, ‎without limitation, statements regarding the future plans, objectives or expectations of the Company are forward-‎looking statements that involve various risks and uncertainties. There can be no assurance that such ‎statements will prove to be accurate and actual results and future events could differ materially from those ‎anticipated in such statements. Forward-looking statements are based on a number of material factors and ‎assumptions. Important factors that could cause actual results to differ materially from Company's ‎expectations include actual exploration results, changes in project parameters as plans continue to be ‎refined, results of future resource estimates, future metal prices, availability of capital and financing on ‎acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, ‎defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment ‎breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations ‎and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the ‎filings made by the Company with securities regulators. Although the Company has attempted to identify ‎important factors that could cause actual actions, events or results to differ from those described in ‎forward-looking statements, there may be other factors that cause such actions, events or results to differ ‎materially from those anticipated. There can be no assurance that forward-looking statements will prove to ‎be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking ‎statements.‎

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48708

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).