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BRIEF-Lydian Announces Extension Of Forbearance Period And Additional Sources Of Liquidity

Published 2018-12-24, 08:46 a/m
BRIEF-Lydian Announces Extension Of Forbearance Period And Additional Sources Of Liquidity
LYD
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Dec 24 (Reuters) - Lydian International Ltd LYD.TO :

* LYDIAN ANNOUNCES EXTENSION OF FORBEARANCE PERIOD AND ADDITIONAL SOURCES OF LIQUIDITY

* LYDIAN - FORBEARANCE FACILITY WILL BE AVAILABLE TO BE DRAWN IN MULTIPLE ADVANCES FROM JAN 1, 2019 THROUGH JUNE 30, 2019

* LYDIAN INTERNATIONAL LTD - FORBEARANCE FACILITY HAS A MATURITY DATE OF JUNE 30, 2019

* LYDIAN INTERNATIONAL - FORBEARANCE FACILITY WILL BEAR INTEREST AT RATE OF 15% PER ANNUM, INCLUDES FURTHER 3% FEE PAID BY ORIGINAL ISSUE DISCOUNT AT EACH DRAWDOWN

* LYDIAN INTERNATIONAL - FORBEARANCE AGREEMENT CONTINUES TO BE REQUIRED AS A RESULT OF PREVIOUSLY ANNOUNCED ILLEGAL BLOCKADES IN AMULSAR SITE

* LYDIAN INTERNATIONAL - ORION, RESOURCE CAPITAL FUND & OSISKO COMMITTED TO MAKE AVAILABLE UP TO $18.56 MILLION DURING FORBEARANCE PERIOD

* LYDIAN - IF ORION & EITHER RCF, OSISKO DETERMINE THAT CO'S PURSUIT OF STRATEGIC ALTERNATIVES WILL NOT BE COMPLETED BY JUNE 30, THEY CAN TERMINATE DEAL

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