Business
Abcourt Exercises Option to Buy-Back 0.5% NSR Royalty and Increases Loan Financing with Nebari
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 Exercises Option to Buy-Back 0.5% NSR Royalty and Increases Loan Financing with Nebari\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. 19, 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 the exercise of its option to reduce from 2.0% to 1.5% the net smelter return royalty on all metallic and non-metallic minerals mined or otherwise recovered on each of the Sleeping Giant and Dormex properties (the “\n \n Royalty\n \n ”) granted to Maverix Metals Inc. (“\n \n Maverix\n \n ”) in accordance with the terms of a net smelter return royalty agreement entered into between the Corporation and Maverix on September 22, 2022 (the “\n \n Royalty Agreement\n \n ”).\n \n\n The Royalty rate was reduced by 0.5% in consideration for a payment US$2,000,000 in cash (the “\n \n First Option\n \n ”). In accordance with the terms of the Royalty Agreement, Abcourt may, at any time prior to September 22, 2028, elect to further reduce the Royalty rate by another 0.5% upon payment of an amount of US$4,000,000 to the holder of the Royalty, thereby reducing the rate of the Royalty to 1.0%.\n \n\n Abcourt also announces that it has entered into a second agreement to amend its 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 ”). The proceeds of the Upsized Loan are being used for the exercise of the First Option. No other material changes have been made to the loan agreement between the Corporation and Nebari.\n \n\n Pursuant to the Upsized Loan, the aggregate amount borrowed from the Lender is US$12,000,000 (the “\n \n Principal Amount\n \n ”), in three tranches of: (i) US$8,000,000 on July 3, 2025 (“\n \n Tranche 1\n \n ”); (ii) US$2,000,000 on September 10, 2025 (“\n \n Tranche 2\n \n ”); and (iii) US$2,000,000 on the date hereof (“\...