Dynasty Metals and Mining Inc

Published : November 02nd, 2015

DYNASTY ANNOUNCES AMENDMENTS TO THE TERMS OF DEBT FINANCING

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Keywords :   Debt | Ecuador | Gold |

DYNASTY ANNOUNCES AMENDMENTS TO THE TERMS OF DEBT FINANCING

Vancouver, B.C., November 2, 2015 - Dynasty Metals & Mining Inc. ('Dynasty' or the 'Company') (TSX: DMM, OTCQX: DMMIF) announced today that it has reached agreement with investment funds managed by Vertex One Asset Management Inc. ('Vertex') to amend certain terms of the note purchase agreement dated June 22, 2015 (the 'Note Agreement').

Under the amended terms, repayments of principal under the promissory notes issued pursuant to the financing have been deferred by nine months such that principal is now repayable by Dynasty in eight equal monthly installments commencing on July 29, 2016 and ending on February 28, 2017. Additionally, in consideration for the deferral, the expiry date of the 600,000 common share purchase warrants of Dynasty (the 'Warrants') which were previously issued to Vertex on June 22, 2015 has been extended from June 22, 2017 to March 22, 2018. The original exercise price of the Warrants has also been amended from $0.73 to $0.31 per share. The amendments to the Warrant terms will become effective November 16, 2015. Other terms of the original Note Agreement remain unchanged (see press release dated June 22, 2015 for a description of the original terms).

Robert Washer, President and Chief Executive Officer of Dynasty, commented: 'The deferral of principal repayments under the Note Agreement provides us with improved financial flexibility to continue our existing development plan at the Zaruma Project. This will enable the Company to continue pushing the decline further to access a greater number of veins and mining fronts to increase production thereby increasing cash flow and profitability.'

About Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.

The Company is currently focused on developing its Zaruma Gold Project, at which the Company is engaged in intermittent production. The Company also has the following non-producing assets: the Jerusalem Project and Dynasty Goldfield Project.

For further information please visit the Company's website at a href='http://www.dynastymining.com' target='_blank'>www.dynastymining.com, or please contact:

Forward-Looking Information

This news release contains statements which are, or may be deemed to be, 'forward-looking information' which are prospective in nature. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as 'plans', 'expects' or 'does not expect', 'is expected', 'scheduled', 'estimates', 'forecasts', 'projects', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Such information in this news release includes, without limitation, statements regarding the expected benefits to be derived by the Company as a result of the amendment to the Note Agreement versus the additional costs associated therewith, , the Company's future plans and expectations relating to future exploration and extraction work at the Zaruma Mine, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations and are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the risk that Dynasty may not achieve consistent results in terms of expected production volume and expected grade of mineral material; risks that there may be additional factors that delay or deter Dynasty's ability to continue to advance its main decline at the Zaruma Project; cash flow risks and other risks and uncertainties, including those described in the Company's Annual Information Form dated March 31, 2015 and other continuous disclosure filings which are available at www.sedar.com. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information, except as may be required by applicable securities laws.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Ecuador | All
Gold and Silver Prices for these countries : Ecuador | All

Dynasty Metals and Mining Inc

PRODUCER
CODE : DMM.TO
ISIN : CA26813S1002
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Dynasty Metals is a gold and silver development stage company based in Canada.

Dynasty Metals develops gold, silver, copper and zinc in Ecuador, and holds various exploration projects in Ecuador.

Its main asset in production is ZARUMA in Ecuador, its main assets in development are JERUSALEM and JERUSALEM in Ecuador and its main exploration property is DYNASTY in Ecuador.

Dynasty Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 28.1 millions as of today (US$ 20.7 millions, € 19.0 millions).

Its stock quote reached its highest recent level on August 17, 2007 at CA$ 9.50, and its lowest recent point on April 22, 2016 at CA$ 0.10.

Dynasty Metals has 87 810 000 shares outstanding.

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In the News and Medias of Dynasty Metals and Mining Inc
6/9/2006Follow up N° 6
Annual reports of Dynasty Metals and Mining Inc
Annual Report 2007
Financings of Dynasty Metals and Mining Inc
10/21/2009$6,000,000 bought deal financing
Nominations of Dynasty Metals and Mining Inc
1/9/2013Announces Director Resignation
5/17/2011Appoints New Director
3/12/2008APPOINTS NEW DIRECTOR
7/31/2007Ecuador Appoints New Undersecretary Of Mines
7/25/2007 ECUADOR APPOINTS NEW MINISTER OF MINES & PETROLEUM
6/28/2007Management Appointments
Financials of Dynasty Metals and Mining Inc
8/15/2013Reports Financial Results for the Three and Six Months Ended...
5/16/2013Reports Financial Results for the Three Months Ended March 3...
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8/15/2012Reports Financial Results for the Three and Six Months Ended...
4/2/2012Releases 2011 Financial Statements
Project news of Dynasty Metals and Mining Inc
7/23/2012(Zaruma)Announces Armed Robbery at Zaruma Gold Project
1/21/2011(Zaruma)Commences Formal Contract Negotiations
2/2/2010(Zaruma)President's Update on Zaruma
9/28/2009(Zaruma)Dynasty Pours First Gold
8/20/2009(Zaruma)Provides update on ecuador gold projects
4/17/2007RECEIVES FINAL PERMITTING TO CONSTRUCT AND OPERATE ZARUMA GO...
Corporate news of Dynasty Metals and Mining Inc
7/29/2016Dynasty Receives Forbearance Period on Vertex One Asset Mana...
7/9/2016Dynasty Provides Corporate Update
7/6/2016Dynasty Announces Annual General Meeting Voting Results
6/15/2016Dynasty Provides Corporate Update
5/31/2016Dynasty Mining Engages a Financial Advisor to the Special Co...
5/17/2016Dynasty Reports Financial Results for the Quarter Ended Marc...
4/27/2016Dynasty Metals & Mining Announces Dynasty Goldfield Project ...
4/20/2016Dynasty Reports 2,785 Ounces of Gold Sold and 2,221 Ounces o...
4/11/2016Dynasty Announces Temporary Work Delay at the Zaruma Gold Pr...
4/5/2016Dynasty Provides Corporate Update
1/23/2016Dynasty Reports 5,634 Ounces of Gold Sold and 4,133 Ounces o...
11/2/2015DYNASTY ANNOUNCES AMENDMENTS TO THE TERMS OF DEBT FINANCING
10/14/2015DYNASTY REPORTS 6,285 OUNCES OF GOLD PRODUCED IN Q3 2015 & P...
9/15/2015DYNASTY SETTLES US$1.44 MILLION OF SHORT TERM DEBT BY WAY OF...
9/14/2015Dynasty Settles US$1.44 Million of Short Term Debt By Way of...
8/14/2015DYNASTY REPORTS FINANCIAL RESULTS FOR THE SIX AND THREE MONT...
6/22/2015DYNASTY CLOSES US$4 MILLION DEBT FINANCING & PROVIDES OPERAT...
4/13/2015DYNASTY METALS AND MINING ANNOUNCES THE APPOINTMENT OF NAOMI...
4/8/2015Dynasty Metals and Mining Announces the Appointment of Naomi...
4/8/2015Announces the Appointment of Naomi Nemeth to the Role of Vic...
4/1/2015DYNASTY REPORTS FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBE...
1/24/2015DYNASTY ANNOUNCES GOLD PRODUCTION OF 25,868 OUNCES AND GOLD ...
1/18/2015Dynasty Announces Gold Production of 25,868 Ounces and Gold ...
11/14/2014DYNASTY REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MON...
11/14/2014Dynasty Reports Financial Results for the Three and Nine Mon...
11/6/2014DYNASTY ANNOUNCES UPDATED DYNASTY GOLDFIELD PROJECT AND JERU...
11/6/2014Dynasty Announces Updated Dynasty Goldfield Project and Jeru...
9/18/2014Dynasty Announces Updated Zaruma Gold Project Resource Estim...
8/15/2014Dynasty Reports Financial Results for the Three and Six Mont...
6/30/2014Dynasty Provides Update on Preparation of Revised Technical ...
6/25/2014Dynasty Announces Annual General Meeting Voting Results
6/2/2014Dynasty Provides Update on Preparation of Revised Technical ...
5/16/2014Dynasty Reports Financial Results for the Three Months Ended...
5/2/2014DYNASTY PROVIDES UPDATE ON PREPARATION OF REVISED TECHNICAL ...
4/30/2014Dynasty Provides Update on Preparation of Revised Technical ...
4/21/2014Dynasty Reports Mine Incident
4/1/2014Dynasty Reports Financial Results for the Year Ended Decembe...
6/20/2013Announces Annual General and Special Meeting Voting Results
10/16/2012(Zaruma)Qualifies Key Zaruma Concessions for Small Scale Mining Lice...
9/6/2012Insurance Claim Settled
10/7/2011(Dynasty)Director Retires From Dynasty's Board
11/30/2009Comments on Ecuadorian Mining Regulations
11/3/2009Completes $6,000,000 equity financing
7/7/2009Welcomes Ecuador Vice Minister of Mines to Its Zaruma Gold P...
7/1/2009Dynasty and IAMGOLD Extend Option Period
3/3/2009CEO Interviewed on BNN
12/17/2008 plans to commission gold plant by the end of March
4/28/2008WELCOMES ECUADOR PRESIDENT TO ITS ZARUMA PROJECT
4/25/2008COMMENTS ON RECENT DEVELOPMENTS IN ECUADOR
4/23/2008 SEEKS CLARIFICATION ON NEW MINING MANDATE
4/15/2008ENTERS INTO REVISED AGREEMENT
3/10/2008Completes $18,750,000 Equity Financing
2/20/2008SPROTT ASSET MANAGEMENT TO INCREASE ITS DYNASTY STAKE TO 22....
1/29/2008PRESIDENT'S UPDATE
1/25/2008CONCESSIONS IN GOOD STANDING
12/18/2007Exercises Option to Buy Back Royalty at Its Near Production ...
12/12/2007MOURNS PASSING OF DIRECTOR PAUL MACNEILL
11/20/2007Increases Gold and Silver Resource Estimate
10/25/2007 RECEIVES CONDITIONAL APPROVAL OF COPPER DUKE SPIN-OFF
8/1/2007To Trade On The Toronto Stock Exchange
7/18/2007New Optimized Zaruma Plant Design
7/16/2007Receives Conditional Approval to Trade on Toronto Stock Exch...
6/12/2007 Provides Zaruma Gold Project Update
2/24/2007Engages Brisco Capital Partners
10/1/2005Follow up N° 4
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TORONTO (DMM.TO)OTC BB (DMMIF)
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