Atna Resources Completes Amendment to Sprott Credit Facility
GOLDEN, Colo., Dec. 20, 2013 /CNW/ - Atna Resources Ltd. ("Atna" or the "Company") (TSX:ATN) announces that, further to its news release dated October 8, 2013, it has completed the amendment to the terms of its outstanding credit facility with Sprott Resource Lending Partnership ("Sprott").
The amended outstanding principal balance of CAD$17,472,696.41 will be amortized in eleven equal monthly payments of CAD$500,000 commencing January 31, 2014, with a final balloon payment due on November 30, 2014. The annual coupon on this facility has been increased to 12% interest from 9% and the Company has agreed to raise an additional CAD$5.0 million in working capital by March 31, 2014 including the sale of non-core assets. As consideration for extending the credit facility, the Company has issued 6,562,500 common shares to Sprott, which shares are subject to a four-month hold period expiring on April 20, 2014.
For additional information on Atna, please visit our website at www.atna.com.
This news release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation, including statements relating to the Company's need to raise additional working capital by some combination of the sale of non-core assets and new equity financing, the outlook of Atna's future growth and gold market sentiment. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change, unless required by law. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: the Company might encounter problems such as the significant depreciation of metals prices; accidents and other risks associated with mine development and production operations; the risk that the Company will encounter unanticipated geological factors; the Company's need for and ability to obtain additional financing; the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration and development programs; and the other risk factors discussed in greater detail in the Company's various filings on SEDAR (www.sedar.com) with Canadian securities regulators and its filings with the U.S. Securities and Exchange Commission, including the Company's 2012 Form 20-F dated March 21, 2013.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
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