Business
Lake Victoria Gold Secures up to a ~US$25 Million Gold Loan from Monetary Metals plus Fully Committed $3.0 Million Convertible Debenture Financing
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - Lake Victoria Gold Ltd. (TSXV: L...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"Lake Victoria Gold Secures up to a ~US$25 Million Gold Loan from Monetary Metals plus Fully Committed $3.0 Million Convertible Debenture FinancingVancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - Lake Victoria Gold Ltd. (TSXV: LVG) (OTCQB: LVGLF) (FSE: E1K) (\"LVG\" or the \"Company\") is pleased to announce that it has agreed to terms for a gold loan facility of up to 6,000 ounces of gold (approximately US$25 million) with Monetary Metals & Co. (\"Monetary Metals\"), alongside a fully committed $3.0 million non-brokered convertible debenture financing (the \"Private Placement\").The Monetary Metals facility represents a significant step toward securing a non-dilutive, project-level financing solution for the development of the Company's Imwelo Gold Project in Tanzania, while the fully committed convertible debenture financing provides immediate capital to accelerate ongoing work programs. The Company previously announced a gold financing initiative with Monetary Metals (see press release dated December 3, 2024), and this binding term sheet represents a major milestone toward securing a definitive, non-dilutive project-level financing solution for Imwelo.The term sheet is binding with respect to certain key commercial terms but remains subject to completion of due diligence, definitive documentation, and customary regulatory approvals.Management CommentaryMarc Cernovitch, CEO & Director, stated: \"This financing allows us to immediately accelerate work programs on the ground at Imwelo and advance key initiatives across both Imwelo and Tembo without delay. With capital now in place, our focus is on execution - progressing engineering, advancing site activities, and moving Imwelo toward development. At the same time, the Monetary Metals facility provides a clear pathway to larger-scale project financing, supporting our objective of bringing Imwelo into production.\"Simon Benstead, Executive Chairman & CFO, added: \"This financing structure is designed to bridge near-term capital requirements with longer-term project funding. The combination of a gold-denominated facility with repayment in gold ounces and a fully committed convertible debenture provides funding certainty while minimizing dilution.We are focused on building a disciplined capital structure to support development and advance Imwelo toward con...