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20.12.2013 17:42:12
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Richmont Mines Terminates Senior Credit Facility With Macquarie Bank
(RTTNews) - Richmont Mines Inc. (RIC)(RIC.TO) said Friday t it has decided to terminate the Senior Secured Credit Facility for up to C$50 million secured with Macquarie Bank Ltd. in August 2013.
No amounts have been drawn on the Facility, and no gold hedging contracts have been put in place, the company said.
As per the terms of the Facility, the company will not incur any cancellation costs.
Paul Carmel, CEO of Richmont said: "When we began discussions with Macquarie in March 2013, the gold environment was quite different than it is now."
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