On December 6, 2018, Northern Vertex Mining Corp. (“Northern Vertex”) announced that it had entered into a US$28 million refinancing (the “Refinancing”). The Refinancing consists of a US$20 million upfront payment from Maverix Metals Inc. to Northern Vertex’s wholly-owned subsidiary Golden Vertex Mining Corp. pursuant to a silver streaming agreement, and a concurrent fully-funded equity private placement in the aggregate amount of US$8 million to Northern Vertex.
On December 12, 2018, Northern Vertex announced that it had completed the Refinancing. A portion of the proceeds from the Refinancing were used to repay the senior secured credit facility with Sprott Private Resource Lending (Collector), LP and certain indebtedness owed to Greenstone Resources II L.P. Northern Vertex intends to use the balance of the proceeds to fund the continued ramp up of mining operations at the Moss Mine and for working capital and general corporate purposes.
Northern Vertex is mineral exploration company that is engaged in the identification, acquisition, exploration and development of gold, silver and other precious metals deposits located in the North America and elsewhere. Northern Vertex is primarily focused on its 100%-owned Moss Mine located in northwest Arizona.
Further details regarding the Refinancing and Northern Vertex can be found on Northern Vertex’s website. Northern Vertex trades under the symbol “NEE” on the TSX Venture Exchange.