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"


SAGA Metals Reports Assay Intercepts Including 52.05% Fe₂O₃, 7.21% TiO₂, 0.375% V₂O₅ from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

SAGA Metals Corp. (TSX-V: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focu... READ MORE

March 5, 2026

Vior Gold Corporation Announces District Scale Projects Acquisition

VIOR GOLD CORPORATION INC. (TSX-V: VIO) (OTCQB: VIORF) (FRA: VL5) is pleased to announce that, on Ma... READ MORE

March 5, 2026

USA Rare Earth to Acquire Texas Mineral Resources Corporation

USA Rare Earth, Inc. (Nasdaq: USAR) and Texas Mineral Resources Corp. (OTCQB: TMRC) today an... READ MORE

March 5, 2026

Endeavour Reports Strong FY-2025 Results

Endeavour Mining plc (LSE:EDV) (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its operating and fin... READ MORE

March 5, 2026

Bunker Hill Announces Closing of C$33,752,300 Brokered Life Offering, Concurrent Non-Brokered Private Placement and Warrant Exercise

Bunker Hill Mining Corp. (TSX-V: BNKR) (OTCQB: BHLL), is pleased to announce that it has closed its ... READ MORE

March 5, 2026

Copyright 2026 The Prospector News