HULDRA SILVER ANNOUNCES AMENDMENT TO CREDIT AGREEMENT
Vancouver, British Columbia – August 2, 2012 – Huldra Silver Inc. (TSX-V:HDA) (“Huldra” or the “Company”) today announces that it has entered into a second amending agreement dated July 30, 2012 (the “Amending Agreement”) with Waterton Global Value, L.P. (“Waterton”) pursuant to which it has further amended the terms of the Credit Agreement dated June 16, 2011, as amended May 16, 2012, between the Company and Waterton.
Cheryl Brandon, Portfolio Manager at Waterton, stated, “We are very pleased with the progress that Huldra has made towards commissioning the recently constructed 200 tpd mill in Merritt, BC. We look forward to continue working with management as they transition Treasure Mountain from a development asset into a high-grade silver producer.”
Ryan Sharp, President and CEO of Huldra, stated, “We are extremely pleased with the strong working relationship we have developed with Waterton. This mutually beneficial agreement allows for the completion of mill construction without any change to the mining or exploration programs”.
The Consideration Shares issued to Waterton will be subject to a hold period of four months and one day under Canadian securities laws and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended.
Huldra is currently working on plans to put its Treasure Mountain Mine, located three hours east of Vancouver, BC, into development, subject to permitting and financing, utilizing a mill being constructed at the Company’s mill property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors of
HULDRA SILVER INC.
To read the entire news release follow the link below:
August 2, 2012 (Source: Huldra Silver, Inc.)
Disclosure: Huldra Silver is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team may hold long positions in HDA.V.