Vizsla Silver's Minera Canam Obtains $10 Million Working Capital Facility for Panuco Project

MT Newswires Live05-26 18:40

Vizsla Silver (VZLA) said Tuesday that Fideicomiso de Fomento Minero's internal credit committee approved a 173 million Mexican peso ($10 million) working capital facility for its Mexican subsidiary, Minera Canam, on May 4.

The unsecured credit agreement has a five-year term and carries an interest rate based on the TIIE funding rate plus a 4.6681% margin, the company said. Under the agreement, Minera Canam will make quarterly interest and principal payments, with a two-year grace period on principal repayments.

Vizsla Silver said the proceeds will support operating and working capital expenditures related to the Panuco Project in Sinaloa.

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