NWM Updates Status of Previously Announced Debt Extension
TSX Venture Exchange
TORONTO, Oct. 31, 2013 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSXV: NWM) announces that it has extended the due date of the current debt outstanding from September 30, 2013 to November 30, 2013. The extension provides a further one month (see the Company's press release dated October 1, 2013) for the ongoing negotiations to be concluded with the Company's lender (Renvest Mercantile Bancorp through its Global Resources Fund), as set out in the Company's press release dated June 14, 2013. All other terms as were announced previously remain in place including the September 30, 2014 maturity date for the amended and restated credit agreement.
About NWM Mining Corporation
NWM is in commercial gold production at its wholly owned Lluvia-Jojoba gold mine. The mine is an open pit heap leach operation in Sonora State, Mexico. Management believes the property is significantly under-explored and hosts potential to provide further gold discoveries and resource and reserve upgrades. While management has focused in the past on developing the mine and supporting cash flows, the focus in 2013 will shift to increasing mining rates and drilling to expand geological resources and reserves.
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For further information, please contact NWM Mining Corporation at (416) 364-6799.