Jaguar Mining Inc. (TSX: JAG) is pleased to announce that it has fully repaid its senior secured bridge facility with Auramet International LLC for USD$7.85 million from the proceeds of Jaguar’s recently completed USD$25 million private placement and general working capital. As a result, the Company’s pledge of the shares of its wholly‐owned subsidiary, Mineracao Serras Do Oeste Eireli (MSOL), as security for the Facility has been discharged.
The net proceeds from the Facility, which was initially announced in Jaguar’s news release dated March 15, 2019, were used to fund working capital requirements, underground development at Turmalina and for general corporate purposes.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims covering an area of approximately 64,000 hectares. The Company’s principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Grande Mines, and Caeté Plant). The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance since 2012 and the Roça Grande Mine which has been on care and maintenance since April 2018.
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