November 21, 2016 / 1:57 PM / a year ago

BRIEF-Golden Queen enters into a new term loan facility for $31 million

Nov 21 (Reuters) - Golden Queen Mining Co Ltd :

* Golden Queen enters into a new term loan facility for $31 million

* Golden Queen Mining Co Ltd says under terms of agreement, maturity date of facility is May 21, 2019

* Golden Queen Mining Co- will use net proceeds of facility to make a partial prepayment of $37.5 million loan previously provided by lenders in 2015

* Balance of prior loan will be repaid from available cash on hand

* Also, co has issued warrants to lenders to acquire up to 8 million common shares in company

* The warrants issued to the lenders have a five year term and are exercisable at $0.85 per common share Source text for Eikon: Further company coverage:

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