Harte Gold reschedules $50 million in amortization payments with BNP

Chicago, March 18 – Harte Gold Corp. announced that it has received a non-binding indicative proposal from BNP Paribas to reschedule approximately $50 million of the scheduled amortization payments under the company’s senior debt facility.

No further details would be required to be made in 2021 after the scheduled March 31 payment, according to a press release.

The $50 million of payments would be deferred in 2021 and 2022.

The company states that the agreement would strengthen the company’s liquidity and significantly reduce associated refinancing risk, allowing the company to focus on continued growth of the operations.

The maturity of the BNP term loan would also be extended to June 2025 from June 2024 and the revolver maturity would be moved to June 2023 from June 2022.

The company anticipates the closing of the negotiated documentation to take place in early Q2 2021.

Harte is a gold exploration company based in Toronto.

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