Altan Nevada Announces Loan Agreement
Altan Nevada Announces Loan Agreement
VANCOUVER, BC (July 23, 2021) – Altan Nevada Minerals Limited (TSXV: ANE) ("Altan Nevada" or the
"Company") announces that it has entered into an unsecured loan agreement with Parkwise Corporation
Pty Ltd (the "Lender") pursuant to which the Company may borrow up to A$300,000 (the "Loan
Agreement").
In connection with the execution of the Loan Agreement, the Lender has advanced the Company
A$130,000. The Company may, subject to certain conditions being met, draw an additional A$170,000
under the terms of the Loan Agreement. The Company intends to use the proceeds of the Loan Agreement
to repay certain amounts owing to Altan Rio Minerals Limited and as general working capital.
The principal amount advanced to the Company under the Loan Agreement , remaining from time to time
unpaid and outstanding, bear s interest at a rate of 12% per annum, payable monthly in arrears. The
principal amount will be repaid in full by July 23, 2023 (the "Maturity Date").
Subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company will issue common share
purchase warrants to the Lender (the "Bonus Warrants") in connection with the funds advanced to it under
the Loan Agreement , each Bonus Warrant entitling the Lender to acquire one common share of the
Company (each a "Warrant Share") until the Maturity Date. The Bonus Warrants will be issued following
the Company completing a share consolidation which results in a Market Price (as defined in the policies
of the TSXV) in excess of C$0.05. The Company will make additional applications to TSXV for the approval
of a ny Bonus Warrants issued in connection with the Loan Agreement and will provide further news
releases at such times setting out the number of Bonus Warrants issued to the Lender and the exercise
price of such Bonus Warrants.
On behalf of Altan Nevada Minerals Limited
For more information contact:
Paul Stephen
Chief Executive Officer
Email: [email protected]
+61 9322 1788
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this press release may constitute forward- looking information. These
statements relate to future events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "will", "projected", "estimat ed", "proposed" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward- looking information and are
based on the Company's current belief or assumptions as to the outcome and timing of such future events.
Such forward- looking information are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained in the statements. In particular, this
release contains forward- looking information relating to the anticipated filing of the Documents. Various
assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections
set out in forward- looking information. Those assumptions and factors ar e based on information currently
available to the Company. The forward-looking information contained in this release is made as of the date
hereof and the Company is not obligated to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place undue
reliance on forward- looking information. The foregoing statements expressly qualify any forward- looking
information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.