TORONTO, ONTARIO--(Marketwired - Jul 3, 2013) - Cline Mining Corporation ("Cline" or the "Company") announced today that the 18th June 2013 forbearance agreement with Computershare Trust Company of Canada ("the Trustee") has been extended until the 12th July 2013.
The Company's Executive Chairman, Mr. Mark Haywood stated that "Cline has been negotiating an alternative financing arrangement with Marret Asset Management Inc. and is expected to close the financing by the 5th July 2013 and ensure that the terms of the forbearance agreement are satisfied."
Additionally, the Company has decided to postpone the Annual General Meeting date until the 15th August 2013. The AGM will be held at the time and location specified in the Notice of Meeting which will be filed in due course on www.sedar.com.
A copy of the forbearance agreement dated 18th June is available on the Company's reference page at the System for Electronic Document Access and Retrieval (www.sedar.com).
Cline is a Canadian mining company focused on the development of its 100% owned New Elk coking coal mine located in Colorado, U.S.A. The Company also has interests in metallurgical steel making coals in Canada, an iron ore project in Madagascar, and the Cline Lake gold property in northern Ontario, Canada. With a head office in Toronto and site offices at the mine, Cline is led by a management and operations team with over 100 years of exploration and mining experience.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.