Primero Announces Cash Redemption of Its 6.5% Convertible Debentures at Maturity

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1165-tsx/p/16371-primero-announces-cash-redemption-of-its-6-5-convertible-debentures-at-maturity.html#.Vrthn-TrvIU

TORONTO, ON–(Marketwired – February 10, 2016) –

(Please note that all dollar amounts in this news release are expressed in U.S. dollars unless otherwise indicated.)

Primero Mining Corp. (“Primero” or the “Company”) (TSX: P) (NYSE: PPP) today announced it will be redeeming with cash its currently outstanding $48.1 million 6.5% senior unsecured convertible debentures due March 31, 2016 (the “Debentures”).

Pursuant to the terms of the Debentures, the Company has elected to satisfy its obligation to pay all of the redemption price using cash on the maturity date of March 31, 2016. The debentures are redeemable for an amount equal to the principal amount of the debentures plus accrued unpaid interest up to, but excluding, the maturity date, which is estimated to total $1.6 million.

 

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