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Minefinders Receives Approval for $50 Million Three Year Revolving Credit Facility With the Bank of Nova Scotia
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 11/05/10 --
Minefinders Corporation Ltd. (TSX: MFL)(NYSE Amex: MFN) is pleased to report it has received formal credit approval from The Bank of Nova Scotia ("BNS") for the renewal of the Companys existing US$50 million revolving credit facility.
The renewal will be structured as an amendment to the existing credit agreement with BNS and will extend the term of the revolving credit facility an additional three years to December, 2013.
Closing of the renewal is expected to occur in mid-November on satisfaction of usual and customary conditions precedent.
About Minefinders
Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico.
For more information, please visit our website at www.minefinders.com.
Forward Looking Statements
This release contains certain "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S.
securities laws.
Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue" or similar terminology.
Forward-looking statements are based on assumptions that the renewal of the revolving credit facility will be closed as anticipated by the parties and that all conditions to closing will be satisfied on a timely basis.
Minefinders and its securities may be subject to important risk factors and uncertainties, both known and unknown, many of which are beyond the Companys ability to control or predict.
Those factors are described or referred to under the heading "Risk Factors" in Minefinders Annual Information Form for the year ended December 31, 2009 and under the heading "Risks and Uncertainties" in Minefinders Managements Discussion and Analysis for the quarter ended June 30, 2010, both of which are incorporated by reference herein and are available on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
Minefinders does not undertake to update any forward looking statements that are incorporated by reference, except in accordance with applicable securities laws.
Contacts:
Minefinders Corporation Ltd.
Jonathan Hackshaw
Director of Corporate Communications
Toll Free: (866) 687-6263 or (604) 687-6263
Minefinders Corporation Ltd.
Mike Wills
Investors Relations Representative
Toll Free: (866) 687-6263 or (604) 687-6263
(604) 687-6267 (FAX)
www.minefinders.com
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