Business
Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine
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 Closes US$ 8M Loan Facility to Start Sleeping Giant Mine\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, July 03, 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 closed today (the “\n \n Closing Date\n \n ”) its previously announced secured financing facility (“\n \n Financing Facility\n \n ”) with Nebari Natural Resources Credit Fund II, LP (“\n \n Nebari\n \n ” or the “\n \n Lender\n \n ”) in an amount of US$8 million (“\n \n Principal Amount\n \n “) for a 36-months period.\n \n\n Pascal Hamelin, President and CEO of Abcourt, commented: “Closing this transaction with Nebari is a major step toward starting production at the Sleeping giant Mine. This investment of USD 8M of non-dilutive capital offers us solid operational flexibility going forward and allows the Company to develop the Sleeping Giant Mine toward a commercial production status. I would like to thank Nebari for working with us to realize the opportunity in this high-grade gold mine. With this Credit Facility in place, Abcourt is well funded to start the Sleeping Giant Mine”.\n \n\n Steven Bowles, Managing Director of the Lender, commented: \"Nebari is pleased to partner with Abcourt Mines as it restarts its Sleeping Giant Mine. The depth of experience and level of preparedness of the Abcourt and Sleeping Giant teams give us the utmost confidence in their ability to bring the operation to its full potential and beyond.\"\n \n\n In accordance with the terms of the comprehensive credit agreement entered into between the Corporation and the Lender, interest will accrue on the Principal Amount based on a floating rate per annum equal to the sum of: (i) the three-month term SOFR (Secured Overnight Financing Rate) (the “\n \n Term SOFR\n \n ”), as determined on the first date of each calendar month; and (ii) 12 % per annum, provided that, if the Term SOFR is less than 4%, it shall be deemed to be 4%.\n \n\n The Financing Facility may be repaid prior to maturity after the first year, subject to a minimum prepayment amount of US...