Titan Mining Announces US$10M Bridge Loan
VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to announce a US$10M bridge loan from the Company’s largest shareholder, Augusta Investments Inc. (“Augusta Investments”). Proceeds from this loan have been used to repay part of the Company’s current credit facility with the National Bank of Canada (“NBC”) bringing the outstanding amount down from $27.2 million to $17.2 million following the payment to NBC. The Company and Augusta Investments are in ongoing negotiations regarding terms of this loan and of the US$5M advance made by Augusta Investments earlier this year.
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