METANOR RESOURCES INC.
TSX VENTURE : MTO

METANOR RESOURCES INC.

August 20, 2010 15:42 ET

Metanor Renegotiates its Credit Facility

VAL-D'OR, QUEBEC--(Marketwire - August 20, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to announce the execution of an Amended and Restated Credit Agreement with a lenders syndicate (the "Lenders"). The Corporation renegotiated certain terms and conditions of its initial credit facility of May 14, 2008 with the Lenders which enables Metanor to extend its credit facility of $US 4.9 million until May 31, 2013.

Metanor will issue, in favour of the Lenders, warrant certificates representing an aggregate of 2,574,567 share purchase warrants. Each share purchase warrant issued shall be valid until May 31, 2013, and have an exercise price of $0.48 per common share, the whole subject to a pro-rata acceleration of 30 days after August 19, 2011 in the case of an early reduction or repayment of the credit facility pursuant to TSX Venture Exchange policies.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

133,595,947 outstanding shares

Contact Information

  • Metanor Resources Inc.
    Serge Roy, Chairman and CEO
    819-825-8678