North American Tungsten Corporation Ltd. announced that it has entered into a $2.5 million interim financing with Callidus Capital Corporation, which was approved by the Supreme Court of British Columbia on July 9, 2015. Under the terms of the Interim Facility, Callidus has agreed to lend to the company $2.5 million, to be drawn down in accordance with the company's cash flow statement that has been provided to Callidus. The interest rate for the Interim Facility is 21% per annum, subject to an additional 2% default interest rate.

The Interim Facility will mature on the earlier of November 15, 2015 and the end of the stay of proceedings pursuant to the initial Court order under the companies' creditors arrangement act. The Interim Facility is secured by a first ranking super priority charge against all assets of NATC.