The Prospector News

Titan Closes $40M Credit Facility From National Bank Consolidating Prior Loans

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Titan Closes $40M Credit Facility From National Bank Consolidating Prior Loans

 

 

 

 

 

Titan Mining Corporation (TSX:TI) is pleased to announce the closing of a revolving credit facility with National Bank of Canada for US$40 million. In addition to the Credit Facility, National Bank has provided the Company with an up to US$15 million treasury line enabling additional access to funds for future zinc contract commitments.

 

Titan will use the proceeds to consolidate previous loans held with Augusta Investments Inc. and the Bank of Nova Scotia. Executive Chairman, Richard Warke will guarantee the National Bank credit facility through Augusta Investments and its related entity for an annual rate of 1.125%.

 

Don Taylor, President and CEO, commented, “We are pleased to have closed the credit facility with National Bank. Overall, it will simplify our credit structure and lower our cost of debt. Another major advantage with the facility is our ability to conduct forward sales of our concentrates without using our capital as down payment, as was previously required. The forward sales are a necessary tool to help protect the Company from fluctuations in the zinc price. I trust this will be the beginning of a long and mutually beneficial relationship with National Bank and the quality team they bring to the industry.”

 

The Credit Facility will bear interest at SOFR plus 2.25% or National Bank’s base rate plus 1.25% a standby fee of 0.5625% and have an 18-month maturity with an annual extension option.

 

About Titan Mining Corporation

Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is built for growth, focused on value and committed to excellence.

Posted June 7, 2022

Share this news article

MORE or "UNCATEGORIZED"


Surge Copper Announces Closing of First Tranche of $20 Million Private Placement

Surge Copper Corp. (TSX-V: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) is pleased to announce that it has... READ MORE

February 27, 2026

Spanish Mountain Gold Drilling Intersects 205.87 Metres Grading 0.58 G/T Gold, 142.00 Metres of 0.77 G/T Gold, and 69.40 Metres of 0.99 G/T Gold in Three Separate Drill Holes Containing Numberous Higher-Grade Sub-Intervals

Spanish Mountain Gold Ltd. (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to report additi... READ MORE

February 27, 2026

Aura Signed the Agreement to Relocate Road at Borborema Mine, Unlocking an additional 670 Koz of gold in Mineral Reserves, totaling 1.5 Moz

Aura Minerals Inc. (Nasdaq: AUGO) (B3: AURA33) is pleased to announce that it has signed the agreem... READ MORE

February 27, 2026

Aura Announces Q4 2025 and FY 2025 Financial and Operational Results

Aura Minerals Inc. (NASDAQ: AUGO) (B3: AURA33) announces that it has filed its audited consolidated ... READ MORE

February 27, 2026

Endeavour Silver Announces Q4 2025 Financial Results; Earnings Call at 10AM PST (1PM EST) Today

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces its financial and operating results ... READ MORE

February 27, 2026

Copyright 2026 The Prospector News