Lion One Metals

Ero Copper announces a US$25.6 million reduction in total debt

VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX:ERO) (the “Company”) is pleased to announce a US$25.6 million (15.4%) reduction in consolidated total debt. The reduction in debt is being facilitated by replacing US$75.6 million in senior secured notes of the Company’s subsidiary, Mineração Caraíba S.A., held by Itaú Unibanco S.A and Banco Votorantim S.A., with a new US$50 million senior secured non-revolving credit facility (the “Facility”) with The Bank of Nova Scotia.

The new Facility matures 5 years from closing and features a 12-month principal payment holiday with equal quarterly principal installments thereafter. The Facility bears an interest rate of LIBOR + 7.0% for the first 12 months, and subject to the completion of construction of the Vermelhos Mine, will bear a reduced interest rate of between LIBOR + 4.5% and LIBOR + 5.5% depending on the Company’s leverage ratio at that time.

A copy of the Facility Agreement and Participation Agreement will be filed on SEDAR.

ABOUT ERO COPPER CORP

Ero Copper Corp, headquartered in Vancouver, B.C., is focused on copper production growth from the Vale do Curaçá Property, located in Bahia, Brazil. The Company’s primary asset is a 99.5% interest in the Brazilian copper mining company, Mineração Caraíba S.A. (“MCSA”), 100% owner of the Vale do Curaçá Property with over 37 years of operating history in the region.  The Company currently mines copper ore from the Pilar underground and the Surubim open pit mines. In addition to the Vale do Curaçá Property, MCSA owns 100% of the Boa Esperanҫa development project, an IOCG-type copper project located in Pará, Brazil.  Additional information on the Company and its operations, including Technical Reports on both the Vale do Curaçá and Boa Esperanҫa properties, can be found on the Company’s website (www.erocopper.com) and on SEDAR (www.sedar.com).

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

Ero Copper

Last Trade: C$17.07
Daily Change: -0.53 -3.01
Daily Volume: 181,674
Market Cap: C$1.450B
Ero Copper files Technical Report for the NX Gold Mine
Ero Copper produces 42,318 tonnes of copper in 2019 and provides 2020 production outlook
Ero Copper announces updated high-grade mineral reserve with average production of 40,500 ounces over initial three-year mine life extension at the NX Gold Mine
Ero Copper intersects 51.8 meters grading 3.49% copper including 33.4 meters grading 4.96% copper in Pilar Mine Deepening, announces two new regional discoveries in the Vermelhos District and the discovery of a nickel-PGM rich zone at Siriema
Ero Copper files Technical Report for Vale do Curaçá Property
Ero Copper Reports Third Quarter Results, Further Increases 2019 Production Guidance
Ero Copper to Release Third Quarter 2019 Financial and Operating Results on November 5, 2019
Ero Copper announces greater than 100% increase in mineral reserves and provides pathway for mill expansion of the Vale do Curaçá Property
Ero Copper intersects 31.8 meters grading 2.22% copper including 5.0 meters grading 5.56% copper at the recently announced Siriema Discovery
Ero Copper Strengthens Board of Directors
Ero Copper Reports Second Quarter Results and Increases 2019 Production Guidance
Ero Copper announces new regional discovery south of Vermelhos Mine – Siriema

Azincourt Energy

Azincourt Energy

Azincourt Energy is a Canadian resource company specializing in strategic acquisition, exploration and development of alternative energy/fuel projects focusing on uranium, lithium, cobalt and other critical energy and fuel elements. Azincourt is actively building a portfolio of projects that will meet the world’s increasing need to power the future. Currently the Company is developing uranium projects in the Athabasca basin as well as lithium pegmatite projects in Manitoba... LEARN MORE

No Internet Connection