Business
Abcourt Announces Increase to Loan Financing With Nebari to Accelerate Sleeping Giant Mine Development
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ROUY...
About this update from Abcourt Mines, Inc. Class B
[{"type":"text","content":"Abcourt Announces Increase to Loan Financing With Nebari to Accelerate Sleeping Giant Mine Development\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n \n\n\n ROUYN-NORANDA, Quebec, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (“\n \n Abcourt\n \n ” or the “\n \n Corporation\n \n ”)\n \n (TSX Venture: ABI) (OTCQB: ABMBF)\n \n is pleased to announce that it has entered into an amended credit agreement (the “\n \n Loan Agreement\n \n ”) with Nebari Natural Resources Credit Fund II, LP (the “\n \n Lender\n \n ” or “\n \n Nebari\n \n ”) pursuant to which an additional USD$2,000,000 is made available as a loan to the Corporation (the “\n \n Upsized Loan\n \n ”).\n \n\n Pursuant to the Upsized Loan, the aggregate amount borrowed from the Lender is USD$10,000,000 (the “\n \n Principal Amount\n \n ”), in two tranches of: (i) USD$8,000,000 on July 3, 2025 (“\n \n Tranche 1\n \n ”); and (ii) USD$2,000,000 on the date hereof (“\n \n Tranche 2\n \n ”). Other than the addition of Tranche 2, no other material changes have been made to the original loan agreement between the Corporation and Nebari. Please see Abcourt’s news release dated July 3, 2025 for further details regarding the original loan agreement and Tranche 1.\n \n\n Abcourt expects to use the proceeds from the Upsized Loan to accelerate the development of its Sleeping Giant Mine. In the coming months, this will involve adding a third underground diamond drill to increase the expansion of the mineral resources at Sleeping Giant and accelerating phase 2 at the sleep camp.\n \n\n Pascal Hamelin, President and CEO of Abcourt, commented: “The partnership with Nebari is great. We’re aligned in the successful development of the Sleeping Giant Mine and talking with mining knowledgeable individuals who understand the opportunities within our business are important. They immediately saw that by increasing the number of workers sleeping on site will reduce the transportation and offsite lodging cost as well as accelerating the development underground. ”\n \n\n Steven Bowles, Managing Director of the Lender, commented: \" Nebari is pleased to upsize our loan to Abcourt in support of ...