Titan Mining extends $40 million credit facility maturity date

Zinc concentrate producer Titan Mining Corporation said on Wednesday that it had extended the maturity date of its $40 million credit facility with National Bank of Canada.

The maturity date of Titan Mining Corp’s revolving credit facility has been extended from December 6th 2023 to December 6th 2024, the company said.

“I am pleased we were able to extend the maturity of the Credit Facility with National Bank to late 2024. This will provide flexibility to our capital structure and allow for capital and exploration investment at our Empire State Mine,” Don Taylor, Chief Executive Officer of Titan Mining Corp, said in a press release.

The shares of Titan Mining Corporation (TI) closed flat at CAD 0.50 on Tuesday in Toronto, with the company’s total market capitalization now standing at CAD 69.49 million.

The shares of Titan Mining Corp have retreated 17.88% so far this year, following another 20.22% loss in 2021.