Key points
- The loan facility was previously due to mature on Feb. 8, 2019.
- Nautilus said it continues to seek short- and long-term financing solutions, including restructuring options, and is negotiating with various third parties.
- Nautilus holds the first mining lease for polymetallic seafloor massive sulphide deposits at the Solwara 1 prospect in Papua New Guinea’s territorial waters.
- Nautilus has been granted its environmental permit for the Solwara 1 site, where it aims to produce copper, gold and silver.
NAUTILUS AND DSMF EXTEND THE MATURITY DATE OF THE EXISTING SECURED LOAN FACILITY
Nautilus Minerals Inc. and Deep Sea Mining Finance Ltd. have agreed to extend the maturity date of the existing secured loan facility which is currently due on Feb. 8, 2019, for 28 days ending on March 8, 2019.
The company continues to seek short- and long-term financing solutions while assessing its options, including various restructuring options. Negotiations with various third parties continue. There can be no assurances that the company will be able to successfully negotiate and complete any financing or other transactions. Any transactions will be subject to all necessary stock exchange, third party and government approvals, as well as compliance with all other regulatory requirements. The company will provide further updates as circumstances warrant.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
