HYCROFT MINING HOLDING CORPORATION

(HYMC)
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Delayed Nasdaq  -  05/23 04:00:00 pm EDT
1.310 USD   +3.97%
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HYCROFT MINING HOLDING CORP : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

01/10/2022 | 04:12pm EDT

Item 1.01. Entry into a Material Agreement.

On January 6, 2021, Hycroft Mining Holding Corporation (the "Company") entered into a waiver and amendment (the "Waiver") with Sprott Private Resource Lending II (Collector), LP (the "Lender") of certain provisions of the (i) Amended and Restated Credit Agreement, dated as of May 29, 2020 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement") among the Company, the Lender, the Guarantors (as defined in the Credit Agreement) and the other parties thereto and (ii) that certain waiver letter agreement, dated as of November 9, 2021 (the "Prior Waiver") by and between the Lender, the Borrower, the Guarantors and the other parties thereto.

Pursuant to the Waiver, the Lender has waived the requirement that the Company maintain at least $9,000,000 of unrestricted cash at all times during the period ending May 10, 2022 (the "Waiver Period"), provided that, the Company maintains at least $9,000,000 of unrestricted cash as of the last day of each calendar month during the Waiver Period.

The Waiver also amends the Credit Agreement to require that the Company shall continue to employ and retain Diane Garrett in her positions as President, Chief Executive Officer and a director of the Company and Stanton Rideout in his positions as Executive Vice President and Chief Financial Officer of the Company until the repayment in full of the Facility Indebtedness (as defined in the Credit Agreement), provided that, if either of Diane Garrett or Stanton Rideout cease to hold any of their respective positions, the Company has nine months after the applicable cessation to find suitable replacements for such positions acceptable to the Lender, acting reasonably.

The foregoing description of the Waiver does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Waiver, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 hereto.



Item 9.01.  Financial Statements and Exhibits.
(d)  Exhibits
The list of exhibits is set forth on the Exhibit Index of this Current Report on
Form 8-K and is incorporated herein by reference.

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Financials (USD)
Sales 2022 - - -
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 258 M 258 M -
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 102
Free-Float 76,0%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 1,31
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Spread / Average Target -
EPS Revisions
Managers and Directors
Diane Renee Garrett President & Chief Executive Officer
Stanton K. Rideout Chief Financial Officer & Executive Vice President
Stephen A. Lang Chairman
Marjorie A. Wieshofer Independent Director
Thomas S. Weng Lead Independent Director
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