EDM Announces Entry into Exclusive Negotiations for Scotia Mine Debt Financing and Drawdown



Halifax, Nova Scotia–(Newsfile Corp. – April 4, 2022) – EDM Resources Inc. (TSXV: EDM) (“GED“or the”Company“) announces that it is in advanced exclusive discussions to secure debt financing and enter into an offtake agreement sufficient to bring EDM’s Scotia Mine into commercial production in the fourth quarter of 2023.

EDM President and CEO Mr. Mark Haywood said: “We are very pleased with the progress made to date in selecting a potential transaction partner for the Scotia Mine financing and advancing our discussions on the terms of potential financing and mining agreements. Although we do not yet have a binding agreement, we are confident that upon satisfactory completion of the due diligence of the mine site by the potential counterparty and following further negotiations, we will be able to announce that we secured the financing we need to move the Scotia mine into production. »

EDM will provide an update on the status of negotiations and any agreement reached regarding funding and levies at or before the end of April 2022.

About EDM Resources Inc.

EDM is a Canadian exploration and mining company that owns 100% of the Scotia Mine and related facilities near Halifax, Nova Scotia. EDM also holds several potential exploration licenses near its Scotia mine and in surrounding areas of Nova Scotia.

The common shares of the Company are traded on the TSX Venture Exchange under the symbol “EDM”. For more information please contact:

Mark Haywood – President and CEO
Robert Suttie – Chief Financial Officer
Simion Candrea – Vice President, Corporate Development

Headquarters: Purdy’s Wharf, 1959 Upper Water Street, Suite 1301, Nova Scotia, B3J 3N2, Canada
Telephone: +1 (902) 482 4481
Fax: +1 (902) 422 2388
Email and Web: [email protected] & www.EDMresources.com

The Company’s corporate documents and technical reports can be viewed on the Company’s SEDAR profile at www.sedar.com. Further information on EDM is also available on Facebook at http://www.facebook.com/EDMresources.inc Twitter on http://www.twitter.com/EDMresources and LinkedIn at http://www.linkedin.com/company/EDMresources.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains certain forward-looking statements that do not consist of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words that indicate that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “should”, “could”, “should”, “would” or “expects”. Because forward-looking statements are based on assumptions and address future events and conditions, they by their very nature involve inherent risks and uncertainties. Although such statements are based on currently available to the Company, there can be no assurance that actual results will meet management’s expectations.The risks, uncertainties and other factors involved in forward-looking information could cause events, results, performance, prospects and opportunities actuals differ materially from those expressed or implied by such forward-looking information. The forward-looking information contained in this press release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, potential mineralization, exploration and development results, mineral resource estimate, exploration and mine development plans, timing of commencement transactions and estimates of market conditions. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from EDM’s expectations include, among other things, the extent to which mineral resource and reserve estimates reflect actual mineral resources and reserves, the extent to which factors are present which would make a mineral deposit commercially viable, the price of zinc, lead and gypsum, uncertainties relating to the availability and costs of financing required in the future, the evolution of stock markets, the risks relating to international operations, actual results of ongoing exploration activities, delays in project development, conclusions of economic assessments and changes in project parameters as plans continue to be refined as well as future prices metals, the ability to predict or counter the potential impact of the COVID-19 coronavirus on per relevant to the Company’s business, as well as the factors discussed in the section titled “Risk Factors” in EDM’s Management’s Discussion and Analysis of the Company’s C Annual Financial Statements for the period ended 31 December 2020. Although EDM has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119112

Source link


About Author

Comments are closed.