Silver Bear amends facilities to lower interest rate to 7% from 9%

By Sarah Lizee

Olympia, Wash., May 27 – Silver Bear Resources plc amended its existing facilities agreement with major shareholders Inflection Management Corp. Ltd. and Unifirm Ltd., an affiliate of A.B. Aterra Resources Ltd., to reduce the interest rate on all funds drawn under the agreement to 7% from 9%, according to a press release.

Also, the first interest period was extended and the interest capitalization date was revised to April 1, 2020.

Silver Bear is a Toronto-based company that engages in the acquisition, exploration, evaluation and development of silver properties in Russia.

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