Hecla Increases Interest in Dolly Varden Silver Corporation - "Hecla Mining Company (NYSE:HL) (“Hecla”) announced today that a wholly owned subsidiary of Hecla (“Hecla Sub”) has entered into a credit agreement (the “Credit Agreement”) with Dolly Varden Silver Corporation (“Dolly Varden”) and another significant shareholder of Dolly Varden, Robert L. Gipson, as lenders (the “Lenders”) providing for a senior, non-revolving secured loan (the “Loan”) of CDN$1,500,000. Pursuant to the Credit Agreement, Hecla Sub will act as agent on behalf of the Lenders and the Lenders have severally and not jointly agreed to advance CDN$750,000 each to Dolly Varden. An additional CDN$500,000 may be made available to Dolly Varden in the discretion of the Lenders, and in that event, each Lender will have the option to advance its pro rata share of such additional amount. The net proceeds of the Loan will be used by Dolly Varden for: (i) exploration of the Dolly Varden project in north-western British Columbia; and (ii) working capital purposes." More
- 10/01/15 | Item |

- Visit GoldReview.com -