Gold Royalty signed a commitment letter with the Bank of Montreal for a fully underwritten $10 million revolving credit facility with an accordion feature allowing for an additional $15 million subject to certain conditions.
The facility will be available for general corporate purposes, acquisitions and investments.
“We are excited to have the support of BMO as this up to $25 million facility strengthens our balance sheet and provides us with further financial flexibility as we continue to grow our already strong and well diversified royalty portfolio,” Josephine Man, CFO of GRC, said.
The facility is expected to close on or about Sept. 30, 2021 and will have a maturity date of Dec. 31, 2022. The facility is subject to definitive documentation and conditions to advances thereunder customary for transactions of this nature.