Uranium Energy Corp. (NYSEMKT:UEC) Amends $20M Loan Terms With Lender

Posted by Peter Lauro March 21, 2014 0 Comment 1104 views

Uranium Energy Corp. (NYSEMKT:UEC) filed a SEC update on 20th March, in which it Celexa online has disclosed the restated terms of the agreement which governs its ongoing $20 million credit facility it enjoys with a consortium of lenders who are represented by Sprott Resource Lending Partnership.

The Lenders

The consortium of lenders includes the financial

lending institutions Resource Income Partners Limited Partnership and Sprott Resource Lending Partnership who have a major contribution into the debt pool. The consortium also has participation from CEF (Capital Markets) Limited.

The Creditors

The consortium has entered into a credit facility arrangement with Uranium Energy Corp. (NYSEMKT:UEC) and a group of its fully owned subsidiaries which include South Texas Mining Venture L.L.P and URN Texas GP LLC. One more subsidiary which operates under the business name of URN South Texas Project, Ltd has also been roped in as a guarantor.

Original Arrangement

The original secured credit facility Sinequan of $20 million, had been established between the two parties in July http://abilifygeneric-online.com/ of 2013, as per the terms of which Uranium Energy Corp. (NYSEMKT:UEC) were provided a $10 million advance. Since then, through second and a third agreement amendments, the lender has provided an additional $10 million to the rare earth metals mining firm, thereby increasing its exposure in this loan agreement to a total of $20 million. The changes in accutane reviews terms which govern this $20 million credit facility were recently amended and the updates were provided to SEC via yesterday’s filing.

Updated Terms

The changes

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in the terms include a pushing out of the loan maturity date to July of 2017, from its earlier data of July 2015. The lender has also agreed to defer the monthly payout of principal amount by another two years. It will now being in July of 2016, rather than 2014 as previously agreed to. In exchange the option the lender has over 2.6 million shares of common stock which were issued to the lender has been extended to July 2018.

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