NWM Announces Debt Extension and Embarks on New Direction under New Leadership
NWM Mining Corporation is pleased to announce that it has reached an agreement on terms for an extension of the due date on the Company’s current debt facility of $18,500,000 USD from June 2013 to September 2014 and reduced the effective interest rate on the principal from 15% to 12.5% per annum. The revised interest rate has the potential to reduce interest payments over the period by approximately $500,000 USD. In order to fully extend the loan until September 30, 2014, there are several conditions which must be satisfied by September 30, 2013.