Paramount Gold amends bridge note with Seabridge; maturity Nov 30, 2023, rate 13%

Paramount Gold Nevada Corp.

Amendment to Bridge Promissory Note with Seabridge Gold Inc. effective Sept 15, 2023.
Maturity date revised to earlier of Nov 30, 2023, Sprott funding, or accelerated payment.
Interest rate increased to 12.0% through Sept 30, then 13.0% from Oct 1, 2023.
Non-binding term sheet with Sprott Resource and Streaming Royalty Corp may trigger repayment.
Note form originally filed Dec 9, 2022; terms incorporated by reference.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Paramount Gold Nevada Corp. amended Amendment No. 1 to Bridge Promissory Note with Seabridge Gold Inc. valued at Modified Maturity Date and Applicable Rate under Bridge Note (effective 2023-09-15).

Action: amendment
Agreement: credit facility
Counterparty: Seabridge Gold Inc.
Value: Modified Maturity Date and Applicable Rate under Bridge Note
Effective: 2023-09-15

Exact text from the filing

Effective as of September 15, 2023, Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) entered into Amendment No. 1 (the “Amendment”) to its outstanding Bridge Promissory Note (the ”Bridge Note”), with Seabridge Gold Inc.

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Paramount Gold Nevada Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-049022

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