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TMAC Resources to Announce Q2 2019 Financial Results on August 14, 2019

TORONTO--(BUSINESS WIRE)--

TMAC Resources Inc. (TMR.TO) (“TMAC” or the “Company”) announces a rescheduling of the release of its second quarter financial results to Wednesday, August 14, 2019. The Company is engaged in discussions with its two largest shareholders, Resource Capital Funds and Newmont Goldcorp Corporation, as well as with Sprott Lending, with respect to its near-term financing requirements and corporate strategy. The Company has not breached any covenants with respect to the Sprott debt facility. The discussions with respect to the financing requirements includes support for the potential release of up to $30.8 million of restricted cash along with additional funding alternatives. In the absence of support from its largest stakeholders, the Company will require funding from other sources to fully meet its near term committed expenditures.

Senior management will host a conference call and webcast to discuss its second quarter financial results on Thursday, August 15, 2019 at 10:00 a.m. (ET).

Conference call and webcast details:

Thursday, August 15, 2019 at 10:00 a.m. ET

 

Webcast

www.tmacresources.com

Toll Free (North America)

1-800-319-4610

Toronto

416-915-3239

International

604-638-5340

An archive of the webcast will be available on the Company’s website.

FORWARD-LOOKING INFORMATION

This release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations or comparable terminology, and include statements regarding the potential release of restricted cash, the possibility of completing other funding alternatives with or without its largest stakeholders and whether such funding, if available, will be sufficient to fully meet the Corporation’s near term committed expenditures. There is no certainty that the discussions described in this release will result in the release of some or any restricted cash or the completion of other funding alternatives and whether such financing initiatives or funding from other sources will be available or sufficient to fully meet the Corporation’s near term committed expenditures.

“Forward-looking information” is not a guarantee of future performance and management bases forward-looking statements on a number of estimates and assumptions at the date the statements are made. Furthermore, such “forward-looking information” involves a variety of known and unknown risks, uncertainties and other factors, which may cause the actual plans, intentions, activities, results, performance or achievements expressed or implied. See “Risk Factors” in the Company’s Annual Information Form dated March 11, 2019 filed on SEDAR at www.sedar.com for a discussion of the risks affecting TMAC.

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