Dynacor: Accelerates Repayment of Long-Term Debt
MONTREAL, QUEBEC--(Marketwired - Dec 13, 2017) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) (all amounts refer to US dollars) is pleased to announce that it has made an additional $1.5 million partial prepayment on its outstanding long-term senior secured credit facilities.
During the last 5 months (August to December) Dynacor has made aggregate payments of $4.4 million reducing the outstanding debt balance to $1.9 million.
Despite the fact that the principal is due only in January of 2019, without any specific capital repayment during its term, Dynacor has accelerated the payment of its debt in order to reduce the financial burden and expects to be debt free in the very near future.
During the first nine months of 2017, the Corporation paid $0.5 million in interest and financial fees relating to the Facility.
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2016, Dynacor produced 73,476 ounces of gold, a 9% increase as compared with 2015 (67,603 ounces in 2015). Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX:DNG)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
Facebook: facebook.com/DynacorGoldMines
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Contact
Jean Martineau
President and CEO
Dynacor Gold Mines Inc.
T: 514-393-9000 ext. 228
Dale Nejmeldeen
Director, Investor Relations
Dynacor Gold Mines Inc.
T: 604.492.0099 | M: 604.562.1348
E: nejmeldeen@dynacor.com
