EMC Metals Corp. (the “Company” or “EMC”) (TSX: EMC) is pleased to announce that it today secured a US$2.5M loan facility with Scandium Investments LLC, a company owned by a US private investor group. The proceeds of the loan are intended to extinguish all outstanding financial obligations related to a February 2013 negotiated settlement arrangement securing rights to the Nyngan Scandium Project. In this regard, the Company repaid today US$1.2M in maturing indebtedness on existing debt, and will use the remaining loan proceeds to pay the final A$1.4M installment of the Nyngan settlement payment due June 30, 2014. Completion of these two payments secures 100% ownership of the Nyngan Scandium Project for EMC.
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