Harte Gold extends BNP forbearance agreement two more weeks

By Wendy Van Sickle

Columbus, Ohio, Oct. 15 – Harte Gold Corp. extended the forbearance agreement with BNP Paribas until Oct. 29, pushed back from Oct. 15 and, before that, from Sept. 30.

BNP will not enforce its rights and remedies under the senior credit facility agreement until the end of that time, according to a press release.

Previously it was announced that BNP had allowed Harte Gold to defer the principal and interest payments that were scheduled for June 30 and the settlement payment under the hedge program originally scheduled for July 2.

Additionally, the bank granted a waiver for the company’s compliance with the financial covenants under the credit facility until July 30.

The strategic review process is continuing.

Harte Gold is a gold exploration company based in Toronto.

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