Business
Financing Update
Financing Update.
About this update from SolGold PLC
[{"type":"text","content":"\n\n25 June 2024\nSolGold plc\n(\"SolGold\" or the \"Company\")\nFinancing Update\n \nSolGold (LSE & TSX: SOLG) is pleased to report that Management's discussions for a significant potential funding package (\"Financing\") for the Cascabel Project (\"Cascabel\" or the \"Project\") are progressing.\nAs an interim measure, Franco-Nevada Corporation (\"Franco-Nevada\") provided a US$10 million loan facility (\"Loan Facility\") to the Company. The Financing and Loan Facility were previously referenced in the Company's news release issued on May 14, 2024 (https://polaris.brighterir.com/public/solgold/news/rns/story/w34v5jx). The Loan Facility was provided to support SolGold's ongoing operations as discussions regarding the longer-term Financing advance. Franco-Nevada is a valuable partner in the Project and is very supportive of these developments. The $10M Loan Facility provided by Franco-Nevada is subject to a 12% per annum interest rate and matures on 19 July 2024.\nThe Company cautions readers that, with the exception of the Loan Facility, it has not entered into any new agreements regarding such a transaction, and there can be no assurance that any discussions that have taken place will result in such agreements. Given that SolGold is presently in discussions, the Company does not intend to comment further unless otherwise required pursuant to applicable securities laws and regulations.\nAs we continue to work to advance the Cascabel Project, SolGold remains committed to delivering significant value to our shareholders. We are focused on securing the necessary financing to develop the Project and are confident in its potential to become a world-class copper-gold operation.\nThis announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation.\nThis announcement was approved for release by Scott Caldwell - Chief Executive Officer\n \nCONTACTS\n\n\n\n\nScott Caldwell\nSolGold Plc (CEO)\n \n\n\n \nTel: +44 (0) 20 3807 6996\n\n\n\n\nTavistock (Media) \nJos Simson/Gareth Tredway \n \n\n\n \nTel: +44 (0) 20 7920 3150\n\n\n\n\nABOUT SOLGOLD\nSolGold is a leading resources company focused on the discovery, ...