TORONTO, June 27, 2013 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) today announces that it has finalized the draw down of the
remaining $25 million on its previously announced $30 million standby
credit facility (the "Facility") with Renvest Mercantile Bancorp Inc.
("Renvest") through its Global Resource Fund (the "Lender").
Consistent with the terms of the Facility, the Lender received a draw
down fee comprising 1,315,789 shares of Jaguar's common stock and
$500,000 in cash.
The proceeds from the draw down are available for, among other things,
working capital requirements related to Jaguar's Turmalina, Paciência
and Caeté mining projects in Brazil. Regarding the draw down, Jaguar's
President and CEO David Petroff said: "Our focus remains on relying on
internally generated funds to the greatest extent possible while
ensuring our ability to execute our business plan in a timely and
efficient manner. We wish to thank Renvest for their continued support
through the Facility."
About Jaguar Mining
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and owns the Gurupi
Project in Northern Brazil in the state of Maranhão. The Company also
owns additional mineral resources at its approximate 210,000-hectare
land base in Brazil. Additional information is available on the
Company's website at www.jaguarmining.com.
SOURCE: Jaguar Mining Inc.
For further information:
T. Douglas Willock
Chief Financial Officer