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ARTEMIS GOLD CLOSES $385 MILLION PROJECT LOAN FINANCING AND $40 MILLION STANDBY COST OVERRUN FACILITY
ARTEMIS GOLD CLOSES $385 MILLION PROJECT LOAN FINANCING AND $40 MILLION STANDBY COST OVERRUN FACI...
About this update from Artemis Gold Inc
[{"type":"text","content":"\n \n \n \n ARTEMIS GOLD CLOSES $385 MILLION PROJECT LOAN FINANCING AND $40 MILLION STANDBY COST OVERRUN FACILITY\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Trading Symbol:   TSX-V: ARTG\n \n \n \n \n All figures presented in Canadian Dollars, unless specified otherwise\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 1, 2023\n \n \n /CNW/ - Artemis Gold Inc. – (TSXV: ARTG) (\n \n \"Artemis\"\n \n or the\n \n \"Company\"\n \n ) is pleased to announce that on\n \n February 28, 2023\n \n it executed  definitive documents for a syndicated project facility with National Bank of\n \n Canada\n \n (\"\n \n National Bank\n \n \"), Macquarie Bank Limited (\"\n \n Macquarie\n \n \") , ING Capital LLC (\"\n \n ING\n \n \"), Société Générale (\"\n \n SocGen\n \n \") and Bank of\n \n Montreal\n \n (\"\n \n BMO\n \n \") (collectively, the \"\n \n Lenders\n \n \") in respect of its previously announced\n \n $385 million\n \n Project Loan Facility (\"\n \n PLF\n \n \") to fund a significant component of the estimated construction costs of the Company's Blackwater Gold Project (\"\n \n Blackwater\n \n \", or the \"\n \n Project\n \n \") in central British Columbia.  The PLF also provides for a\n \n $40 million\n \n standby cost overrun facility (\"\n \n Standby COF\n \n \").\n \n \n \n \n \n \n \n \n \n The terms of the PLF are substantially consistent with those announced in the Company's news release dated\n \n February 24, 2022\n \n and include the following:\n \n \n \n \n Facility Amount\n \n -\n \n $360 million\n \n , plus up to\n \n $25 million\n \n for capitalized interest prior to Project completion, plus a\n \n $40 million\n \n Standby COF. The Company may cancel the Standby COF once Project development reaches completion.\n \n \n \n \n \n Interest Rate\n \n – Canadian Dealer Offered Rate (\n \n \"CDOR\"\n \n ), plus a margin of 4.75% pre-project completion, reducing to 4.25% post-completion....