08:16 AM EDT, 10/18/2024 (MT Newswires) -- Laramide Resources ( LMRXF ) said Friday that it completed an amendment with lenders to extend the maturity date of its term loan to April 1, 2026 from March 31, 2025, and for a new non-convertible $5 million standby credit facility.

The new facility will have the same maturity date as the term loan and allows for multiple drawdowns. All other terms of the term loan remain.

"With many catalysts immediately ahead for us, including further drill results from our ongoing Australian drilling program and an important upcoming State election in Queensland on October 26th, we believe these newly announced transactions will provide valuable financial flexibility for us going forward and should prove mutually beneficial," President and CEO Marc Henderson said.

Laramide's share price fell 1.4% yesterday to $0.73 on the TSX.