Star Mountain Resources, Inc. (SMRS) Subsidiary Issues Promissory Note to New York Public Benefit Trust
Before the opening bell, Star Mountain Resources, Inc. (OTC: SMRS) announced that its wholly-owned subsidiary, St. Lawrence Zinc Company, LLC, has issued a promissory note in the aggregate principal amount of $500,000 to the Development Authority of the North Country, a New York public benefit trust. Per the terms of the note, payments of accrued interest associated with the loan commenced on April 1, 2016, with full repayment of the principal amount, in addition to all accrued and unpaid interest, due on or before April 1, 2017. The loan has been guaranteed by both Star Mountain and wholly-owned subsidiaries Northern…