BNS Increases First Nickel Revolver
First Nickel announced it entered into agreements with its lenders to increase the amount available under existing credit facilities, including an increase in the principal amount of the revolving credit facility with The Bank of Nova Scotia from $15 million to $18 million and a corresponding increase to the standby letter of credit posted by Resource Capital Fund V from $7.5 million to $10.5 million.
The company also amended its credit facility with RCF V that backstops the RCF V letter of credit.
The increased financing will provide the company with liquidity to fund capital expenditures at the Lockerby Mine.
First Nickel is a Canadian mining and exploration company.