"are we in default?"
No, the debt facility was extended to June:
FOR IMMEDIATE RELEASE TSX Venture Exchange
September 21, 2012 Symbol: NWM
NWM Successfully Negotiates Extension of Debt Facility to June 2013
TORONTO, ON. – NWM Mining Corporation (“NWM” or the “Company”) (TSX-V: NWM)
announces an extension of the debt facility coming due in December 2012 to June 14, 2013. US
$500,000 of interest payable in September and October will be capitalized in the form of a convertible
debenture with a strike price of $0.06 due September 20, 2013. This convertible bears interest at a rate
of 15% and is not subject to amortization repayments. A cash payment of $150,000 is payable and
10,500,000 common shares of NWM will be issued on closing.