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BRIEF-Alderon Provides Loan Update

Published 2020-04-01, 07:31 a/m
Updated 2020-04-01, 07:36 a/m
© Reuters.

April 1 (Reuters) - Alderon Iron Ore Corp IRON.TO :

* ALDERON PROVIDES LOAN UPDATE

* ALDERON IRON ORE CORP - SPROTT PREVIOUSLY AGREED TO AN EXTENSION OF MATURITY DATE OF LOAN FACILITY TO MARCH 31, 2020

* ALDERON IRON ORE CORP - COMPANY DID NOT REPAY LOAN FACILITY AS OF MATURITY DATE

* ALDERON IRON ORE CORP - AS CO HAS NOT REPAID LOAN FACILITY, SPROTT MAY REALIZE ON ITS SECURITY AND COMPANY COULD LOSE ITS INTEREST IN KAMI PROJECT

* ALDERON IRON ORE CORP - AT THIS TIME, SPROTT HAS NOT MADE A DETERMINATION REGARDING ENFORCEMENT OF ITS SECURITY

* ALDERON IRON ORE CORP - CONTINUES TO EVALUATE POTENTIAL ALTERNATIVES, INCLUDING A CORPORATE TRANSACTION OR EXTENSION OF LOAN FACILITY

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