Patagonia Gold increases loan facility with Cantomi to $20 million

Chicago, April 14 – Patagonia Gold Corp. increased the loan under an agreement with Cantomi Uruguay SA to $20 million from $15 million.

The original $15 million was provided in February 2019, according to a press release.

The maturity date on the amended facility is Dec. 31, 2024.

The loan may be increased up to a total of $33 million.

Proceeds will be used to refinancing existing lines of credit to reduce interest costs and for general working capital purposes.

Other than the increase, all terms of the loan remain unchanged.

Patagonia, based out of Vancouver, B.C., is a South American-focused mining company listed on the Toronto Stock Exchange.

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