BRIEF-Nevada Copper enters agreement to amend senior secured loan agreement dated Dec 31, 2014

Tue Apr 5, 2016 6:23am EDT
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April 5 (Reuters) - Nevada Copper Corp :

* Entered agreement to further amend its senior secured loan agreement dated december 31, 2014 with exp t1 ltd

* Agreed with pala investments on term sheet under which maturity of pala's existing subordinated debt would be extended to dec 31, 2017

* Amendment to reduce required funding under a 2016 financing to us$10 million from $15 million

* Continues to hold discussions with various strategic groups

* Special committee of board has been appointed to review and evaluate all value-add strategic alternatives

* Management is currently considering alternate project development plans Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)