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McFarlane Lake Mining Extends Maturity Date of $1.7 Million of Remaining Debentures

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McFarlane Lake Mining (MLM.CN) amended its 15.0% Senior Secured Debentures due 2026, of which about $1.7 million remains outstanding, to extend the maturity date of the debentures from Oct. 26, 2026, to Oct. 31, 2027, it said in a statement after markets closed on Tuesday.

The company also amended the debenture to eliminate its obligation to fund and top up the interest reserve, it said. Its debentures will continue to bear interest at 15.0% per annum, payable quarterly in arrears, through the extended maturity date.

Shares of the company closed up 2.6% to C$0.40 on Tuesday on the Canadian Securities Exchange.

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