Gold Stocks to watch 04/16/2013, PGRX, KBX, ZIXI, CYTK, SVLC, GPL more at Daily Stock Deals

Prospect Global Completes Senior Debt Restructuring

DENVER, April 16, 2013 /PRNewswire/ -- Prospect Global Resources, Inc. (PGRX) announced today the successful restructuring of its long-term debt with the Karlsson Group ("KG"), advancing its long-term plan to build a potash mine in the Holbrook Basin of Arizona.
Key highlights include:

• Debt maturity extended to July 2015; interim principal payment of $30 million due January 2015
• Interim payments to KG decreased to 10% of any capital raised after $10 million of capital raised (previously 40% of any capital raised)
• Restructured $6.75 million Unsecured Notes from 3^rd party to extend maturity dates, and reduced interim capital payments to 10% of any capital raised after $10 million of capital raised (previously 33% of any capital raised)
• The Company is required to meet interim financing milestones to fund the continued development of the Holbrook Basin project
  

"We are very pleased with the outcome of our restructuring efforts," said Damon Barber, Prospect Global's President and Chief Executive Officer. "The restructuring of our debt marks a significant step forward for the company. Despite the recent volatility in our stock price, we believe that we are now well positioned to move forward in building long-term value for all shareholders."

About Prospect Global Resources, Inc.
Prospect Global Resources, Inc. is a Denver-based company engaged in the exploration and development of a large, high-quality potash deposit located in the Holbrook Basin of eastern Arizona. The company's stock is traded on the NASDAQ Stock Exchange under the ticker symbol PGRX.
Additional details about Prospect Global Resources Inc. can be viewed at the Company's website, www.prospectgri.com.

Kimber, KBX, owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the recently filed 2012 Updated Mineral Resource Estimate Technical Report for the Carmen deposit representing a component of those activities.

Source:company, OxBridge Research, Daily Stock Deals

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