The Prospector News

Monarch Mining Corporation Announces the Closing of the $13.5 Million Financing with Investissement Québec

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Monarch Mining Corporation Announces the Closing of the $13.5 Million Financing with Investissement Québec

 

 

 

 

 

MONARCH MINING CORPORATION (TSX: GBAR) (OTCQX: GBARF) is pleased to announce the closing on August 13, 2021, of the previously announced $13.5 million senior secured term loan agreement with Investissement Québec (see press release dated August 3, 2021). The Loan has a three-year term and bears interest at an annual rate of 6% until the restart of the Beaufor Mine and Beacon Mill, 5% during the first year of production and 4% for the subsequent years, subject to certain pre-established terms and conditions.

 

About Investissements Québec

Investissement Québec’s mission is to play an active role in Québec’s economic development by stimulating business innovation, entrepreneurship and recovery, as well as investment and export growth. Active in every administrative region of Québec, the corporation supports the creation and development of businesses of all sizes through investments and adapted financial solutions. Investissement Québec also supports companies through consulting services and other accompanying measures, including technological support offered by Investissement Québec – CRIQ. Also, through Investissement Québec International, the corporation assists companies in exporting and prospecting for foreign talent and investment in Québec.

 

About Monarch

Monarch Mining Corporation is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned and fully permitted Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 714,982 ounces of combined measured and indicated gold resources and 421,793 ounces of combined inferred resources.

 

Posted August 16, 2021

Share this news article

MORE or "UNCATEGORIZED"


Arizona Silver Extends High Grade Zone at Philadelphia Project

Drills 2.26 Metres at 11.81 gpt Gold And 39.31 gpt Silver within ... READ MORE

May 25, 2022

LAURION Intersects 6.72m True Width* at 0.62 g/t Au and 3.05% Zn as part of a 65m thick mineralized zone in the Newly Opened Area SW Extension of the A-Zone at Ishkoday Au-Zn-Cu-Ag Project

LAURION Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) is ... READ MORE

May 25, 2022

DRILLING DEFINES SECOND GOLD ZONE ALONG 1.4 KM VEIN STRUCTURE AT ASTRA'S PAMPA PACIENCIA PROJECT, CHILE

Astra Exploration Inc. (TSX-V: ASTR) is pleased to provide result... READ MORE

May 25, 2022

Osisko Windfall Drilling Intercepts High-Grade in Multiple Lynx Zones

Osisko Mining Inc. (TSX:OSK) is pleased to provide new analytical... READ MORE

May 25, 2022

Integra Intersects Record Silver Grade at DeLamar: 9.85 g/t AuEq Over 26.97 m, Including 80.40 g/t Au and 14,054 g/t Ag (261.28 g/t AuEq) Over 0.40 m in Potential New, High-Grade Structural Zone at Sullivan Gulch

Drill results from Sullivan Gulch (located on the eastern portion... READ MORE

May 25, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News