Santacruz Silver Agrees To New US$9.5 Million Loan Facility; Replaces Existing Corporate Debt Arrangement

VANCOUVER, Nov. 24, 2015 /CNW/ – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company”) (TSX.V:SCZ) announces that the Company has agreed in principle to terms whereby it will receive US$9.5 million under a senior secured loan facility (the “Loan Facility”) with a lender syndicate (the “CrediPresto Syndicate”) headed by CrediPresto Group (“CrediPresto”) and including two other institutions.

Proceeds from the Loan Facility will be used to restructure the obligations owing by the Company to JMETLLC (“JMET”) under the Pre-Paid Forward Silver Purchase Agreement (the “Pre-Paid Agreement”) between Santacruz and its affiliates and JMET. The proposed terms of the Loan Facility will provide for a deferral of principal repayments which should allow the Company to solidify its balance sheet during current market conditions and should return the Company to a positive working capital position.


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