TSX:
JAG
TORONTO, July 15, 2019 /CNW/ - Jaguar Mining Inc.
("Jaguar" or the "Company") (TSX: JAG) is pleased to
announce that it has fully repaid its senior secured bridge
facility (the "Facility") with Auramet International LLC for
USD$7.85 million from the proceeds of
Jaguar's recently completed USD$25
million private placement and general working capital. As a
result, the Company's pledge of the shares of its wholly‐owned
subsidiary, Mineracao Serras Do Oeste Eireli (MSOL), as security
for the Facility has been discharged.
The net proceeds from the Facility, which was initially
announced in Jaguar's news release dated March 15, 2019, were used to fund working capital
requirements, underground development at Turmalina and for general
corporate purposes.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining,
development, and exploration company operating in Brazil with three gold mining complexes and a
large land package with significant upside exploration potential
from mineral claims covering an area of approximately 64,000
hectares. The Company's principal operating assets are located in
the Iron Quadrangle, a prolific greenstone belt in the state of
Minas Gerais and include the Turmalina Gold Mine Complex and Caeté
Mining Complex (Pilar and Roça Grande
Mines, and Caeté Plant). The Company also owns the Paciência
Gold Mine Complex, which has been on care and maintenance since
2012 and the Roça Grande Mine which has been on care and
maintenance since April 2018.
Additional information is available on the Company's website at
www.jaguarmining.com.
Forward-Looking Statements
Certain statements in this news release constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking statements and
information are provided for the purpose of providing information
about management's expectations and plans relating to the future.
All of the forward-looking information made in this news release is
qualified by the cautionary statements below and those made in the
Company's other filings with the securities regulators in
Canada. Forward-looking
information contained in forward-looking statements can be
identified by the use of words such as "are expected," "is
forecast," "is targeted," "approximately," "plans," "anticipates,"
"projects," "anticipates," "continue," "estimate," "believe" or
variations of such words and phrases or statements that certain
actions, events or results "may," "could," "would," "might," or
"will" be taken, occur or be achieved. All statements, other than
statements of historical fact, may be considered to be or include
forward-looking information. The Company has made certain
assumptions with respect to forward-looking information contained
herein. Forward-looking information involves a number of known and
unknown risks and uncertainties, including among others: the risk
of Jaguar not meeting the forecast plans regarding its operations
and financial performance; uncertainties with respect to the price
of gold, labour disruptions, mechanical failures, increase in
costs, environmental compliance and change in environmental
legislation and regulation, weather delays and increased costs or
production delays due to natural disasters, power disruptions,
procurement and delivery of parts and supplies to the operations;
uncertainties inherent to capital markets in general (including the
sometimes volatile valuation of securities and an uncertain ability
to raise new capital) and other risks inherent to the gold
exploration, development and production industry, which, if
incorrect, may cause actual results to differ materially from those
anticipated by the Company and described herein. In addition, there
are risks and hazards associated with the business of gold
exploration, development, mining and production, including
environmental hazards, tailings dam failures, industrial accidents
and workplace safety problems, unusual or unexpected geological
formations, pressures, cave-ins, flooding, chemical spills,
procurement fraud and gold bullion thefts and losses (and the risk
of inadequate insurance, or the inability to obtain insurance, to
cover these risks). Accordingly, readers should not place undue
reliance on forward-looking information.
For additional information with respect to these and other
factors and assumptions underlying the forward-looking information
made in this news release, see the Company's most recent Annual
Information Form and Management's Discussion and Analysis, as well
as other public disclosure documents that can be accessed under the
issuer profile of "Jaguar Mining Inc." on SEDAR at www.sedar.com.
The forward-looking information set forth herein reflects the
Company's reasonable expectations as at the date of this news
release and is subject to change after such date. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law. The forward-looking information contained in this news release
is expressly qualified by this cautionary statement.
SOURCE Jaguar Mining Inc.
