Business
Gold Royalty Announces Two-year Extension To Secured Revolving Credit Facility Of Up To US$25 Million
VANCOUVER, BC, Sept. 14, 2022 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that it has extended the
About this update from Gold Royalty Corp.
[{"type":"text","content":" VANCOUVER, BC, Sept. 14, 2022 /CNW/ - Gold Royalty Corp. (\"Gold Royalty\" or the \"Company\") (NYSE American: GROY) is pleased to announce that it has extended the maturity date of its existing US$25 million secured revolving credit facility with Bank of Montreal to March 31, 2025. The extended credit facility consists of a US$10 million secured revolving credit facility (the \"Facility\"), with an accordion feature providing for an additional US$15 million of availability (the \"Accordion\"). Josephine Man, the Company's Chief Financial Officer commented: \"We are pleased with the extension of our revolving credit facility with the Bank of Montreal and would like to thank our lenders for their continued support and confidence in our business. Despite a difficult broader market backdrop, the Facility has attractive terms, is competitively priced and has an Accordion feature that can provide further liquidity as we continue to grow our business through disciplined and accretive acquisitions.\" The Facility, secured against the assets of the Company, is available for general corporate purposes, acquisitions and investments, and bears interest at a rate determined by reference to the Base Rate plus a margin of 3.00% or Adjusted Term SOFR plus a margin of 4.00%, as applicable. The exercise of the Accordion is subject to certain additional conditions and the satisfaction of financial covenants. About Gold Royalty Corp. Gold Royalty is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors. Gold Royalty's diversified portfolio currently consists primarily of royalties on gold properties located in the Americas. Cautionary Statement on Forward-Looking Information: Certain of the information contained in this news release constitutes 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and U.S. securities laws (\"forward-looking statements\"), including but not limited to statements regarding the Company's business plans, the expected benefits of the facility and availability of the Accordion. Such state...