Cline Mining Corporation

Cline Mining Corporation

July 09, 2013 15:59 ET

Cline Closes on Marret Financing

TORONTO, ONTARIO--(Marketwired - July 9, 2013) -

Cline Mining Corporation ("Cline" or the "Company") announced today that it has successfully closed on a $9,490,998 10% senior secured convertible bond (the "Convertible Bonds") financing with Marret Asset Management Inc.

The Company's Executive Chairman, Mr. Mark Haywood stated that "Our new financing arrangement with Marret Asset Management Inc. is designed to ensure that Cline can meet its obligations over the short to medium term whilst it continues discussions with a number of significant investment groups."

The June 17th, 2013 interest payment owing of approximately $3.2 was satisfied through the issuance of Convertible Bonds.

The trust indenture for the Convertible Bonds and the first supplement providing for the $9,490,998 issuance are available on the company's reference page on SEDAR www.sedar.com.

About Cline

Cline is a Canadian mining company focused on the maintenance and development of its 100% owned New Elk coking coal mine located in Colorado, U.S.A. The Company also has interests in metallurgical steel making coals in Canada, an iron ore project in Madagascar, and the Cline Lake gold property in northern Ontario, Canada. With a head office in Toronto and site offices at the mine, Cline is led by a management and operations team with over 100 years of exploration and mining experience.

For further details on Cline, please refer to Cline's web site (www.clinemining.com) and Cline's Canadian regulatory filings on SEDAR at www.sedar.com.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Cline Mining Corporation
    Mark Haywood
    Executive Chairman
    +1 (416) 504-7600

    Cline Mining Corporation
    Paul Haber
    Chief Financial Officer & Corporate Secretary
    +1 (416) 504-7600

    Cline Mining Corporation
    Corporate office
    Heritage Building
    181 Bay Street, Toronto, Ontario, M5J 2T3
    info@clinemining.com
    www.clinemining.com