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Galleon Gold Receives Indicative Term Sheet for a $46 Million Debt Facility from Pan American Silver and Announces $25 Million in Equity Financings
Galleon Gold Receives Indicative Term Sheet for a $46 Million Debt Facility from Pan American Sil...
About this update from Galleon Gold Corp
[{"type":"text","content":"\n\n\nGalleon Gold Receives Indicative Term Sheet for a $46 Million Debt Facility from Pan American Silver and Announces $25 Million in Equity Financings\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nTORONTO, Nov. 24, 2025 /CNW/ - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the \"Company\" or \"Galleon Gold\") is pleased to announce it has (a) executed an indicative term sheet for a $46 million debt facility (the \"Debt Facility\") from Pan American Silver Corp. (\"Pan American\"), (b) agreed to issue and sell units of the Company (the \"Non-Brokered Units\") at a price of $0.60 per Non-Brokered Unit to Pan American on a non-brokered private placement for proceeds of $10,250,000 (the \"Non-Brokered Offering\"), and (c) entered into an agreement with Cormark Securities Inc., as lead agent and sole bookrunner, on behalf of itself and a syndicate of agent (collectively, the \"Agents\") in connection with a \"best efforts\" private placement for aggregate gross proceeds of approximately $14,750,000 million (the \"LIFE Offering\" and collectively with the Non-Brokered Offering, the \"Offerings\", and together with the Debt Facility, the \"Financing\"). The proposed terms of the Debt Facility are subject to confidentiality restrictions and will be announced at the time of the committed facility. All amounts are in Canadian dollars.\nThe Company intends to use the net proceeds from the Financing to advance surface infrastructure and underground development related to the bulk sample program at its West Cache Gold Project (the \"Project\"), to repurchase a 3% net smelter royalty on the Project (see press release dated October 16, 2025), and for working capital and general corporate purposes.\nThe completion of each component of the Financing is subject to customary conditions, including the negotiation and execution of definitive documentation and the receipt of all necessary regulatory approval...