Victoria Gold further amended its secured debt agreement, dated Dec. 18, 2020, as amended Dec. 20, 2021, June 16, 2022 and Feb. 17, 2023. The loan facility is comprised of a term loan and a revolving credit facility.
The loan facility is provided by a syndicate of Canadian banks including Bank of Montreal, CIBC, Desjardins and National Bank.
Pursuant to the amended loan facility, the company has extended the maturity date of the revolving credit facility from Dec. 31, 2024 to Dec. 31, 2025. No other terms of the revolving credit facility have changed.
There is no change to the term facility which has four equal quarterly instalments remaining through to the maturity date of Sept. 30, 2024.
“I would like to thank BMO, CIBC, Desjardins and National for their continued support of Victoria Gold and our Eagle Gold Mine,” John McConnell, president and CEO of Victoria Gold Corp., said. “Victoria expects to generate significant free cash flow over the coming quarters and years and will be focusing on debt repayment. The extension of the maturity of the Revolving Credit Facility will add greater flexibility to our balance sheet.”
