Josemaria extends the maturity date of the Lorito 2019 facility


VANCOUVER, BC, April 22, 2021 / CNW / – Josémaria Resources Inc. (TSX: JOSE) (OMX: JOSE) (OTCQB: JOSMF) (“Josemaria Resources” or the “Company”) indicates that it has reached an agreement (the “Agreement“) to extend the due date of his $ 20 million credit facility (the “Installation Lorito 2019“) materialized by a bond issued to Lorito Holdings S.à.rl (“Lorito“or the”Lender“) by the Company dated October 25, 2019 (the “US $ 20 million Debenture“). In accordance with the Agreement, the US $ 20 million The maturity date of the debenture has been extended by April 25, 2021 To 25 November 2021 (the “Extended due date“). The amount currently drawn on the Lorito 2019 Facility is 3.6 million US dollars. View PDF.

The terms of the Lorito 2019 facility include the issuance by the Company to the lender of 800 common shares of the Company (“Ordinary actions“) per month for each $ 50,000 of the 2019 Lorito Facility drawn and outstanding from time to time. No interest is payable in cash during the term of the US $ 20 million The Debenture and any amount of the Lorito 2019 Facility remaining unpaid and outstanding on or after the Extended Maturity Date will bear interest at the rate of 5.00% per annum until repaid in full.

Due to the extended maturity date and subject to the approval of the Toronto Stock Exchange (the “TSX“), up to 1,167,997 additional ordinary shares will be reserved for issuance in accordance with the terms of the US $ 20 million debenture and the Lorito 2019 facility extension. All securities issued under the Lorito 2019 facility will be subject to a four-month hold period under applicable securities laws.

Related party transactions
The Lender is a corporation controlled by a trust established by the deceased Adolf H. Lundin and an insider of the Company. Issuing common shares to an insider and entering into an agreement with the lender to extend the maturity date of US $ 20 million The Debentures each constitute a “related party transaction” in accordance with National Instrument 61-101 respecting the Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company avails itself of the exemption from minority shareholder approval requirements under NI 61-101, as the fair market value of the common shares to be issued to the lender as a result of the agreement does not exceed 25%. the market capitalization of the Company, as determined in accordance with MI 61-101.

About Josémaria Resources:
Josemaria Resources Inc. is a natural resources company focused on the development of its 100% owned Josemaria copper-gold project in the province of San Juan de Argentina. A recently published feasibility study (see “NI 43-101 Technical Report, Feasibility Study for the Josemaria Copper-Gold Project, San Juan Province, Argentina“date of entry into force September 28, 2020 and filed on November 5, 2020) demonstrates a simple and conventional open pit copper-gold project with a robust economy and a quick payback period. Josemaria is a Lundin Group company and works in partnership with the Lundin Foundation to implement best practices in responsible mining development in Argentina where the Lundins have 30 years of value creation experience. The Company is a reporting issuer in all provinces and its head office is located at Vancouver, BC. The Company’s shares are listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol “JOSE” and trade on the OTCQB under the symbol “JOSMF”.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein in the United States or in any jurisdiction in which such an offer or sale would be illegal. The securities described in this document have not been and will not be registered under the US Securities Act of 1933, as amended, or any US state securities law and may not be offered or sold. in the United States or on behalf of or for the benefit of a United States person or a person in the United States without registration or an applicable exemption from registration requirements.

Further information:
This is information that the Company is required to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact persons indicated below on April 22, 2021 To 8:30 p.m. Eastern Time.

On behalf of the Council,
Adam lundin
President and CEO

Caution regarding forward-looking information and statements
Certain statements made and information contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking information”). The forward-looking information contained in this press release is based on information available to the Company at the date of this press release. Unless required by applicable securities legislation, the Company does not intend and assumes no obligation to update this forward-looking information. In general, such forward-looking information can frequently, but not always, be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is expected”, ” budget ”,“ planned ”,“ estimates ”,“ foresees ”,“ intends ”,“ anticipates ”or“ does not anticipate ”, or“ believes ”, or variations of these words and expressions or statements which certain actions, events, conditions or results “will”, “may”, “could”, “would”, “could” or “will be taken”, “occur” or “be achieved” or their negative connotations. All statements other than statements of historical fact may be forward-looking information.

The forward-looking information contained in this press release includes statements regarding the timing and success of obtaining required regulatory approvals (including the TSX).

Forward-looking information is necessarily based on estimates and assumptions which are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual results, level of activity, performance or performance. achievements of the Company are materially different from those expressed or implied by such forward-looking information, including, but not limited to: risks and uncertainties associated, among others, with inherent uncertainties concerning cost estimates, variations in the prices of commodities, currency fluctuations, financing, unexpected resource levels, infrastructure, results of exploration activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political and related economic risk and unanticipated environmental impact on o perations, as well as other risks, uncertainties and other factors, including, without limitation, those mentioned in the section “Risk Factors”, and elsewhere, in the Co the most recent annual information form of mpany and the more recent MD&A of the company, which may cause the actual results, level of activity, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking information.

The Company believes that the expectations reflected in the forward-looking information included in this press release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

The forward-looking information contained in this press release is made as of the date of this press release and the Company assumes no obligation to publicly update and / or revise the forward-looking information included, whether as a result of such information. , future events and / or other, except as required by applicable securities laws. Forward-looking information is provided for the purpose of providing information about management’s current expectations and plans and to provide investors and others with a better understanding of the Company’s operating environment. Forward-looking information is based on certain assumptions that the Company considers reasonable, including that the current price and demand for raw materials will be maintained or improved, that the supply of raw materials will remain stable, and that general business and economic conditions will not change. change in a material adverse manner, that financing will be available if and when necessary on reasonable terms and that the Company will not experience a material labor dispute, accident or plant or equipment failure. These factors are not and should not be construed as exhaustive.

Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All forward-looking information contained in this press release is subject to these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information because of the inherent uncertainty therein.

Josemaria extends the deadline for the 2019 Lorito generating station (CNW Group / Josemaria Resources inc.)

SOURCE Josémaria Resources inc.



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