The Corporation strengthens its financial position by repaying the loan two months ahead of schedule
MONTREAL, Aug. 14, 2018 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSXV: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report that it has repaid the US $4 million senior secured gold loan borrowed from Auramet International LLC ("Auramet").
"We decided to repay the loan two months ahead of the September 30, 2018, deadline, which will allow us to have a stronger balance sheet and more financial flexibility," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "We would like to thank Auramet for its early support of us and our vision."
Auramet (www.auramet.com) is a global physical metals merchant that provides a full range of services to participants in the precious and base metals sectors, including prepayment and other financings, advisory services, off-take from mining and recycling companies, revenue enhancement strategies, and price protection programs.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corporation (TSXV:MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.
SOURCE Monarques Gold Corporation
For further information: Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist - Communications, Specialist, 1-888-994-4465, [email protected], www.monarquesgold.com