Jaguar Mining plan implementation deadline, stay extended to April 7

By Caroline Salls

Pittsburgh, March 25 - Jaguar Mining Inc. reached an agreement with holders of its 4.5% senior unsecured convertible notes due Nov. 1, 2014 and 5.5% senior unsecured convertible notes due March 31, 2016 to extend the outside date for implementation of its plan of compromise and arrangement to April 7, according to a company news release.

Jaguar said the outside date under its support agreement and backstop agreement was also extended to April 7.

In addition, the company said the Ontario Superior Court of Justice extended its stay of proceedings under the Companies' Creditors Arrangement Act until April 7.

According to the release, some conditions to implementation of the plan have not been satisfied or waived at this time.

Jaguar is a junior gold producer in Brazil with headquarters in Toronto.

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