Business
Minera Alamos Closes US$75 Million Revolving Credit Facility with Scotiabank and National Bank, Strengthening Balance Sheet for Organic Growth Profile
Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) ("Minera Alamos" or the "Company") is pleased to announce that the Company has closed the US$75 million revolving credit facility (the "RCF") with The Bank of Nova Scotia ("Scotiabank") and National Bank of Canada ("National Bank") previously disclosed in its news release dated March 31, 2026. An initial drawdown of US$45 million on the RCF will be made to principally repay the Company's existing...
About this update from Minera Alamos Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Minera Alamos Inc. (TSXV: MAI) (OTCQX: MAIFF) ("Minera Alamos" or the "Company") is pleased to announce that the Company has closed the US$75 million revolving credit facility (the "RCF") with The Bank of Nova Scotia ("Scotiabank") and National Bank of Canada ("National Bank") previously disclosed in its news release dated March 31, 2026. An initial drawdown of US$45 million on the RCF will be made to principally repay the Company's existing debt and commitments with Auramet International, Inc. ("Auramet") including the gold prepayment facility of 7,830 ounces of gold and the remaining 3,000 ounces of gold forward sales priced at approximately US$2,100 per ounce.","length":802,"tagName":"p"},{"type":"text","content":"Darren Blasutti, CEO, commented, "We are very proud to have closed the US$75 million RCF with Scotiabank and National Bank, enabling us to make an initial drawdown to refinance our existing higher cost capital commitments. The RCF's impact to our business cannot be overstated as it achieves three key outcomes: (1) immediately increases gold revenue by allowing full pricing exposure to 10,830 ounces of gold over the next 16 months that would have otherwise been delivered to Auramet; (2) allows the additional cash liquidity generated from these gold ounces along with the undrawn portion of the RCF to be used to build and unlock exploration value from the Copperstone underground project, the Gold Rock heap leach project and potentially the Cerro de Oro heap leach project, faster and without equity dilution over that same time period; and (3) extends our debt maturity repayment until May 2029, which aligns with the higher expected gold production from our growth portfolio. With our balance sheet now optimized for growth, we are well positioned to build and explore our low-capital intensity portfolio of gold projects."","length":1145,"tagName":"p"},{"type":"text","content":"The proceeds from the initial drawdown on the RCF will also be used for spending on the Company's growth projects, and for working capital and general corporate purposes. The RCF initially will be subject to a US$50 million drawdown limit pending satisfaction of certain post-closing conditions.","length":...