VANCOUVER, British Columbia, Sept. 17, 2018 (GLOBE NEWSWIRE) — Imperial Metals Corporation (Imperial or the Company) (TSX:III) commences a financial and business restructuring process.
As of the close of business on September 14th Imperial completed the following actions:
Extension of the due date of the Companys Secured Revolving Senior Credit Facility of $200 million from October 1, 2018 to February 15, 2019. The Secured Revolving Senior Credit Facility is now supported by a guarantee from Edco Capital Corporation, a company controlled by a significant shareholder of the Company, for an annual fee of 225 basis points. The annual guarantee fee is less than the reduction in the interest rate charged on the extended Senior Credit Fac…
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