Consmin

Extension of Early Consent Date

ST HELIER, Jersey, July 21, 2016 /PRNewswire/ --

US$400,000,000 8.000% Senior Secured Notes due 2020 

Regulation S Notes: ISIN USG2370YAB23 / CUSIP G2370YAB2 
Rule 144A Notes: ISIN US209504AB54 / CUSIP 209504AB5 

• Consolidated Minerals ("Consmin", the "Group" or the "Company") announces an extension of the Early Consent Date in the consent solicitation statement dated 7 July 2016 prepared by the Company (the "Consent Solicitation Statement") with respect of its 8.000% Senior Secured Notes due May 15, 2020 (collectively, the "Notes"). 

The Consent Solicitation Statement solicits the consent of the Holders to certain proposed amendments to the terms of the Notes as more fully set out in the Consent Solicitation Statement. Capitalized terms used in this announcement and not otherwise defined herein have the meanings ascribed to them in the Consent Solicitation Statement.

The Company's obligation to accept any Consents is conditional on the receipt of Consents of Holders of at least 95% in aggregate principal amount of the outstanding Notes. At 23:59pm New York City time on 20 July 2016 (the "Early Consent Date"), the Company had received and accepted consents from Holders of 90.80% in aggregate principal amount of the outstanding Notes. Holders are invited to submit valid consents to the proposals set out in the Consent Solicitation Statement in accordance with the procedures set out therein.

The consent solicitation statement expires at 5:00pm New York City time on 4 August 2016 ("Expiration Date") and Holders are invited to submit valid consents prior to the Expiration Date. Holders who deliver valid consents (and do not validly revoke such consents) on or prior to the Expiration Date shall receive a consent fee in an amount equal to $5 for each $1,000 principal amount of such Notes.

The Early Consent Date has now been extended to 23:59pm, New York City time on 26 July 2016 (the "Extended Early Consent Date"). Holders who deliver valid consents (and do not validly revoke such consents) on or prior to Extended Early Consent Date shall receive an additional early consent fee in an amount equal to $5 for each $1,000 principal amount of such Notes. 

The other terms of the Consent Solicitation Statement are deemed to have changed to the extent affected by the changes described herein. Except as set forth herein, all other terms described in the Consent Solicitation Statement remain unchanged. The Company may, in its sole discretion, subject to applicable law and the terms of the Lock-Up Agreement, terminate, further extend or amend the consent solicitation at any time as described in the Consent Solicitation Statement.