Northern Vertex Secures $9MM in Equipment Financing from Cat Financial

Northern Vertex Mining executed a commitment letter and term sheet with Cat Financial, pursuant to which Cat Financial has agreed in principle to fund the company’s purchase of certain key equipment, including power generators and mobile equipment manufactured by Caterpillar and the crushing plant for use at the company’s Moss Mine gold silver project.

The material terms and conditions of the Cat Financial equipment finance facility include:

  • Financing between 70% and 80% of the equipment purchase price to maximum amount of $9 million of equipment purchases
  • Quarterly payments over a four year lease period
  • The right to buy the equipment at the end of the lease period for nominal consideration
  • Security over the acquired assets in favor of Cat Financial and a guarantee from the company
  • Payment of interest and arrangement and commitment fees to Cat Financial.

Closing of the equipment finance facility is subject to customary conditions for such financings including the execution of a master lease agreement and applicable security documentation, equipment delivery and satisfactory completion of conditions precedent.

Northern Vertex is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in Northwest Arizona.

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Terry Mulreany
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