MTB Metals arranges $500,000 loan

Executive Summary

• MTB Metals Corp. entered into a $500,000 non‑revolving term loan with Cupel Advisory Corp. and Bernie Hensel.
• The loan carries interest at 1.5 % per month, payable monthly, with a minimum five‑month interest commitment.
• As security, MTB pledged 486,072 common shares of Dolly Varden Silver Corp. and issued three million share purchase warrants (exercise price $0.05) to the lenders; a 1 % commitment fee was also paid.

Key Details

• Loan Amount: $500,000 principal.
• Term: One year, non‑revolving.
• Interest Rate: 1.5 % per month on outstanding principal; interest payable on the first Tuesday of each calendar month.
• Minimum Interest Commitment: Borrower must pay at least five months of accrued interest regardless of repayment schedule.
• Repayment Flexibility: Principal and any accrued/unpaid interest may be prepaid at any time.
• Security – Share Pledge: 486,072 common shares of Dolly Varden Silver Corp. pledged to lenders.
• Commitment Fee: 1 % of loan amount paid to lenders at closing.
• Warrants Issued: 3,000,000 common share purchase warrants granted to lenders.
• Exercise Price: $0.05 per share.
• Exercise Period: 12 months from issuance date.
• Hold Period: Four‑month hold period under Canadian securities law; additional restrictions may apply in other jurisdictions.
• Use of Proceeds: To repay certain outstanding obligations and for general corporate purposes.

Notable Quotes

(No executive quotes were provided in the release.)