on Silver X Mining Corp. (isin : CA8283411079)
Silver X Mining Corp. Secures Loan Agreement and Announces Management Change
Silver X Mining Corp., a rapidly growing silver producer from Peru, announced a loan facility agreement with global commodity trading leader Trafigura PTE Ltd. The agreement provides Recuperada S.A.C., a Silver X subsidiary, with up to $1.4 million for capital expenditures and working capital, repayable over 25 months with interest based on SOFR plus 6% annually. The loan includes customary covenants and is secured by Recuperada's mining equipment and concessions.
Additionally, Silver X will grant 1.5 million common share purchase warrants to Urion Holdings (Malta) Limited, Trafigura's affiliate, with conditions pending approval from the TSX Venture Exchange.
The company also announced the retirement of COO Freddy Mayor, with CEO José M. Garcia temporarily assuming the role to maintain strategic alignment towards increasing production and profitability.
R. H.
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