Alastair Still, CEO of GoldMining, commented, "Throughout the growth of our business, we have adhered to a financially disciplined approach to value creation, evidenced by the fact that the Company last completed an equity raise five years ago. We entered the new phase of our business growth, which is to unlock the value of our resource portfolio, with the IPO of Gold Royalty Corp. Our continued interest in Gold Royalty, which has a current market value of approximately
The Facility will be subject to an interest rate of 3-month USD LIBOR plus 5.65% per annum and customary margin requirements. The Facility will have a maturity of one year, may be extended for an additional one-year period, subject to lender approval, and will be secured by shares of Gold Royalty Corp. owned by the Company.
The Facility will be available for general corporate purposes, acquisitions and to continue to advance company projects including the previously announced preliminary economic assessments at the 100% owned Yellowknife Gold project in
The Facility is subject to definitive documentation and conditions customary for a transaction of this nature.
About
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations, including regarding the proposed Facility and the Company's proposed plans for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: any inability to finalize and complete definitive documentation respecting the Facility or satisfy the other conditions or to complete the transaction as contemplate or at all; delays to plans caused by restrictions and other future impacts of COVID-19 or any other inability of the Company to meet expected timelines for planned project activities, including the timing of proposed project studies and programs; the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, proposed studies may not confirm GoldMining's expectations for its projects, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information Form for the year ended
View original content:https://www.prnewswire.com/news-releases/goldmining-announces-us20-million-non-dilutive-facility-with-bank-of-montreal-301405385.html
SOURCE
© Canada Newswire, source