Solitario Exploration extends $5 million credit facility to Sept. 30

Agreement with RMB was extended to allow Mount Hamilton project sale

By Devika Patel

Knoxville, Tenn., Aug. 6 – Solitario Exploration & Royalty Corp. said it extended its $5 million secured credit facility agreement with RMB Australia Holdings Ltd. and RMB Resources Inc. The facility was negotiated on Aug. 10, 2012 and has been extended to Sept. 30, 2015.

Solitario agreed to pay RMB a $50,000 extension fee. The company also extended the expiration date of 1,624,748 warrants associated with the facility to Aug. 21, 2016. Each warrant is exercisable at $1.5387 per share.

The extension was arranged to allow for any additional time that may be necessary to close the company’s planned sale of its 80% membership interest in the Mount Hamilton project to Waterton Nevada Splitter, LLC for $24 million.

Solitario is a Wheat Ridge, Colo.-based precious and base metals exploration company.

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