Oracle Mining lender accelerates $6.7 million secured convertible loan

Vincere Resource plans to exercise rights and remedies

By Angela McDaniels

Tacoma, Wash., Dec. 8 – Vincere Resource Holdings LLC declared Oracle Mining Corp.’s $6.7 million secured convertible loan due and payable and plans to exercise its rights and remedies under the terms of the loan agreement.

Oracle Mining is out of compliance with some of the loan’s milestone covenants, according to an Oracle Mining news release.

The company borrowed the loan on Dec. 17, 2014.

Oracle Mining is a copper mining company in Vancouver, B.C.

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