Business
Minera Alamos Moves to Strengthen Balance Sheet with Executed Term Sheet for US$75 Million Revolving Credit Facility from Scotiabank and National Bank
Provides ability to bolster balance sheet for growth and enable repayment of existing gold prepayment facilityToronto, Ontario--(Newsfile Corp. - March 31, 2026) - Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) ("Minera Alamos" or the "Company") is pleased to announce that on March 25, 2026 the Company executed a term sheet for a new US$75 million revolving credit facility (the "Revolver") with The Bank of Nova Scotia ("Scotiabank") and National Bank of Canada ("National Bank"). The term sheet...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"Provides ability to bolster balance sheet for growth and enable repayment of existing gold prepayment facility","length":110,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 31, 2026) - Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) ("Minera Alamos" or the "Company") is pleased to announce that on March 25, 2026 the Company executed a term sheet for a new US$75 million revolving credit facility (the "Revolver") with The Bank of Nova Scotia ("Scotiabank") and National Bank of Canada ("National Bank"). The term sheet has been approved by both banks' credit committees with closing and initial funding of the Revolver subject to negotiation and execution of definitive loan, guarantee and security agreements and satisfaction of certain customary closing conditions.","length":700,"tagName":"p"},{"type":"text","content":"Revolving Credit Facility Key Terms","length":35,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Capacity of US$75 million available on closing","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"Term of three years from closing date","length":37,"tagName":"p"}]},{"val":[{"type":"text","content":"Interest rate of Term SOFR plus a margin spread between 3.25% and 4.25% based on the Company's Total Net Debt / EBITDA ratio","length":128,"tagName":"p"}]},{"val":[{"type":"text","content":"Revolver to have senior security over the Company's material assets","length":71,"tagName":"p"}]},{"val":[{"type":"text","content":"Customary financial covenants including: (1) Total Net Debt / EBITDA ≤ 3.0x, (2) Interest Coverage ≥ 3.0x, and (3) minimum of liquidity of US$10 million","length":152,"tagName":"p"}]},{"val":[{"type":"text","content":"Scotiabank will be Administrative Agent, with both Scotiabank and National Bank acting as Co-Lead Arrangers and Joint Bookrunners","length":129,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":563,"olType":false},{"type":"text","content":"Darren Blasutti, EVP Corporate Development, commented, "We are immensely proud to partner with two tier-1 Canadian banks and global mining finance leaders. This US$75 million Revolver will provide us with lower cost debt financing, and combined with our stro...