Silver Bow Mining enters $5 million secured note deal with Ocean Partners UK
SBMT•Silver Bow Mining entered a note purchase agreement with Ocean Partners for a $5 million secured promissory note. The note matures March 31, 2027, and carries interest at 12-month SOFR plus 6.75%.
1. Note terms
Proceeds are restricted to advancing the Rainbow Block project and acquiring the Jefferson County Metallurgical Complex. Repayment is tied to the Complex closing; otherwise, principal and accrued interest are due in a lump sum at maturity. Collateral includes a first-priority security interest in a $28.58 million promissory note issued by Montana Goldfields to Silver Bow.
