Starcore repays $4.5 million bonds

April 12, 2017

Responsive image

VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 12, 2017) – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) announces that it has repaid outstanding secured bonds in the aggregate principal amount of Cdn$4.5 million (the “Bonds”) (see news releases of November 17, 2015 and November 11, 2016.). The Bonds were to mature on May 12, 2017. As provided for by the terms of the Bonds, Starcore elected an early repayment of the Bonds, with total payout of Cdn$4,678,520.55, which included interest in the amount of Cdn$178,520.55. After this Bond repayment, the Company has an approximate cash balance of Cdn$10.1 million dollars, or $0.2055 per share, due largely to the recent closing of the sale of the San Pedrito real estate asset (see news release of March 22, 2017).

Category: General