AUGUSTA GOLD ANNOUNCES LOAN EXTENSION | AUGG Stock News
Summary
The Company also agreed to pay an extension fee to the Lender of (the "Extension Fee").In connection with the Extension, the Lender will loan to the Company (the "Additional Loan Amount"), an amount equal to all interest and fees payable on the loan under the Loan through September 30, 2024 (including the amount of the Extension Fee), which the Company will immediately repay to the Lender in full satisfaction of all interest and fees payable through September 30th, 2024.All interest payable from October 1st, 2024 through the Maturity Date, will not become due and payable under the Loan until the Company obtains approval for the payment of such interest from the disinterested shareholders of the Company in accordance with the requirements of the Toronto Stock Exchange (the "TSX"). The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. These statements appear in a number of places in this new release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the that the Lender will loan the Additional Loan Amount to the Company, which will be immediately repaid by the Company to the Lender. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Companys periodic filings with Canadian securities regulators and the United States Securities and Exchange Commission. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.