Argonaut Gold entered into a $30 million revolving credit facility. Bank of Montreal (BMO) acted as lead arranger, bookrunner and administrative agent for the facility. In addition to BMO, The Bank of Nova Scotia is also participating as a lender.

The three-year facility remains undrawn at present but is immediately available. The facility includes customary terms and conditions, will initially bear interest of LIBOR+2.50% and subsequently on a sliding scale between 2.25% to 3.25%. Standby fees for the undrawn portion of the facility are also on a similar scale basis between 0.51% and 0.73%. The uses of proceeds are for general corporate purposes and future project development.