Business
Gold Royalty to Expand Existing Secured Revolving Credit Facility Up to US$35 Million and Joins United Nations Global Compact
VANCOUVER, BC, Feb. 13, 2023 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce an amended and restated c
About this update from Gold Royalty Corp.
[{"type":"text","content":" VANCOUVER, BC, Feb. 13, 2023 /CNW/ - Gold Royalty Corp. (\"Gold Royalty\" or the \"Company\") (NYSE American: GROY) is pleased to announce an amended and restated credit agreement with the Bank of Montreal and the National Bank of Canada to expand its existing secured revolving credit facility by US$10 million to US$35 million. The expanded credit facility consists of a US$20 million secured revolving credit facility (the \"Facility\"), with an accordion feature providing for an additional US$15 million of availability (the \"Accordion\") subject to certain additional conditions. Andrew Gubbels, the Company's Chief Financial Officer commented: \"We are pleased with the expansion of our existing revolving credit facility with the Bank of Montreal and the participation of a new lender, the National Bank of Canada. The attractive terms of the Facility provide additional flexibility and liquidity as we continue to grow our business through disciplined and accretive acquisitions.\" The Facility, secured against the assets of the Company, will be 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 Facility will have a maturity date of March 31, 2025. The Facility is subject to conditions to advances thereunder customary for transactions of this nature. United Nations Global Compact Gold Royalty is pleased to announce that it has joined the United Nations Global Compact (the \"UN Global Compact\"), the world's largest corporate sustainability initiative. Formed in 2000, the UN Global Compact comprises over 17,000 companies across 177 countries. As a participant, Gold Royalty has voluntarily committed to align its operations and strategy with the ten universally accepted principles in the areas of human rights, labour, environment, and anti-corruption, and to take action to support the broader UN Global Compact goals, including its Sustainable Development Goals. The UN Global Compact provides members with a principle-based framework, best practices, resources and forum for discussion with a goal to strengthen corporate sustainability practices for the betterment of society. Joining the UN Global Compact is an important part of Gold Royalty's focus on sust...