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Maverix Metals Secures US$50 Million Revolving Credit Facility
Maverix Metals Secures US$50 Million Revolving Credit Facility Canada NewsWire V...
About this update from Mustang Minerals Limited
[{"type":"text","content":"\n\n\n\nMaverix Metals Secures US$50 Million Revolving Credit Facility\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 21, 2018\n\n\n\nVANCOUVER, June 21, 2018 /CNW/ - Maverix Metals Inc. (the \"Company\" or \"Maverix\") (TSX-V: MMX) is pleased to announce it has entered into a revolving credit agreement with Canadian Imperial Bank of Commerce (\"CIBC\") and National Bank Financial (\"NBF\") which allows the Company to borrow up to US$50 million (the \"Revolving Facility\" or \"Facility\"). The Revolving Facility has a term of three years, which is extendable through mutual agreement between Maverix, CIBC, and NBF. Maverix intends to use the Facility for future royalty or stream acquisitions and general corporate purposes.\n\n\n \n \n\n \nDepending on the Company's leverage ratio, the amounts drawn on the Facility are subject to interest at LIBOR plus 2.50% - 4.00% per annum, and the undrawn portion is subject to a standby fee of 0.56% - 0.90% per annum.\n\nDan O'Flaherty, President and CEO of Maverix, commented, \"We are pleased to be working with CIBC and NBF and appreciate the support and confidence they have shown in our business model. The expected increase in our operating cash flows, coupled with this facility, should provide Maverix with greater financial flexibility and capacity to continue to grow our precious metals royalty and streaming portfolio.\" \n\nAbout Maverix\n\nMaverix Metals Inc. is a gold royalty and streaming company. Maverix's mission is to provide its shareholders with significant low risk leverage to the gold price and to increase underlying per share value by expanding its portfolio with acquisitions of high-quality royalties and streams that offer robust returns. \n\nNEITHER THE TSX VENTURE EXCHANGE (\"TSX-V\") NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\nCautionary note regarding forward-looking statements\n\nThis release contains certain \"forward looking statements\" and certain \"fo...