Cline Mining Corporation

Cline Mining Corporation

April 30, 2014 09:47 ET

Cline Receives Extension of Forbearance Agreements

TORONTO, ONTARIO--(Marketwired - April 30, 2014) - Cline Mining Corporation ("Cline" or the "Company") announced today that it has received extensions of the forbearance agreements ("Forbearance Extensions") previously entered into with Computershare Trust Company of Canada, the trustee in respect of Cline's US$65.5 million 10% senior secured bonds and its CDN$12.3 million 10% senior secured convertible bonds. The Forbearance Extensions will remain in effect until the earlier of (i) June 30, 2014 and (ii) the occurrence of a Forbearance Termination Event (as such term is defined in the forbearance agreements).

Copies of the forbearance agreements are available on the Company's reference page at the System for Electronic Document Access and Retrieval (www.sedar.com).

About Cline

Cline is a Canadian mining company whose primary asset is its 100% owned New Elk coking coal mine located in Trinidad, Colorado. The Company also has interests in an iron ore project in Madagascar, and the Cline Lake gold property in northern Ontario, Canada. Cline's head office is in Toronto and it has a site office at the New Elk mine in Colorado.

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

Contact Information

  • Cline Mining Corporation
    Matt Goldfarb
    Chief Restructuring Officer & Acting Chief Executive Officer
    +1 (416) 572-2200
    mgoldfarb@clinemining.com

    Cline Mining Corporation
    Paul Haber
    Chief Financial Officer & Corporate Secretary
    +1 (416) 572-2200
    info@clinemining.com

    Cline Mining Corporation
    Corporate office
    161 Bay Street, 27th Floor
    Toronto, ON M5J 2S1
    www.clinemining.com