TORONTO, June 28, 2013 /CNW/ - NWM Mining Corporation
("NWM" or the "Company") (TSX-V: NWM) announces that, further
to its news release dated June 14,
2013, it has paid $75,000 USD
and issued 28,533,000 common shares (the "Bonus Shares") to
the Company's lender, Global Resource Fund (the "Lender"),
as the initial extension fee for extending the maturity date on the
Company's current debt facility (the "Facility") of
$18,500,000 USD. Following the
issuance of the Bonus Shares, the Lender holds 60,033,008 common
shares in the capital of NWM.
The due date on the Company's current debt
facility has been extended from June
2013 to September 2014 and the
effective interest rate on the principal will be reduced from 15%
to 12.5% per annum. The revised interest rate has the potential to
reduce interest payments over the period by approximately
$500,000 USD. In order to reduce the
interest rate and fully extend the loan until September 30, 2014, there are several conditions
which must be satisfied by September 30,
2013 (see news release dated June 14,
2013 for further details).
The transaction is subject to the final approval
of the TSX Venture Exchange. The Bonus Shares are subject to a four
month and one day hold period expiring on October 27, 2013.
About NWM Mining Corporation
NWM is in commercial gold production at its
wholly owned Lluvia-Jojoba gold mine. The mine is an open pit heap
leach operation in Sonora State,
Mexico. Management believes the
property is significantly under-explored and hosts potential to
provide further gold discoveries and resource and reserve upgrades.
While management has focused in the past on developing the mine and
supporting cash flows, the focus in 2013 will shift to increasing
mining rates and drilling to expand geological resources and
reserves.
Additional information about NWM can be found on
the NWM website at www.nwmcorp.ca or on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of this release.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information", as
such term is defined in applicable securities laws. Forward-looking
information includes, without limitation, the success of
exploration activities, price outlooks, production expectations and
other similar statements concerning anticipated future events,
conditions or results that are not historical facts. These
statements reflect management's current estimates, beliefs,
intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward looking
information is inherently uncertain and that actual performance may
be affected by a number of material factors, many of which are
beyond the Company's control. Accordingly, actual future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date
of this news release and the Company is under no obligation to
update or alter any forward-looking information.
SOURCE NWM Mining Corporation