GoldMining Inc. (TSX: GOLD; NYSE American: GLDG)
Announced that it has received a commitment for a US$20 million loan facility with Bank of Montreal.
The Facility will be subject to an interest rate of 3-month USD LIBOR plus 5.65% per annum and customary margin requirements. The Facility will have a maturity of one year, may be extended for an additional one-year period, subject to lender approval,
|GoldMining Inc.||TSX : GOLD|
|Market cap||C$256 m @ C1.77|
|Location||Various Latin American countries|
GoldMining Announces US$20 Million Non-Dilutive Facility With Bank of Montreal
OCTOBER 21, 2021
Vancouver, British Columbia– October 21, 2021 – GoldMining Inc. (the “Company” or “GoldMining“) (TSX: GOLD; NYSE American: GLDG)is pleased to announce that it has received a commitment for a US$20 million loan facility (the “Facility”) with Bank of Montreal (“BMO“).
GoldMining Inc. management comments
“Throughout the growth of our business, we have adhered to a financially disciplined approach to value creation, evidenced by the fact that the Company last completed an equity raise five years ago.
“We entered the new phase of our business growth, which is to unlock the value of our resource portfolio, with the IPO of Gold Royalty Corp.
“Our continued interest in Gold Royalty, which has a current market value of approximately US$110 million, has further strengthened our balance sheet. As we maintain our disciplined approach, and plan to continue harnessing value from our projects, this Facility strengthens our balance sheet while maintaining our continued exposure to Gold Royalty.”
Alastair Still, CEO of GoldMining
The Facility will be subject to an interest rate of 3-month USD LIBOR plus 5.65% per annum and customary margin requirements. The Facility will have a maturity of one year, may be extended for an additional one-year period, subject to lender approval, and will be secured by shares of Gold Royalty Corp. owned by the Company.
The Facility will be available for general corporate purposes, acquisitions and to continue to advance company projects including the previously announced preliminary economic assessments at the 100% owned Yellowknife Gold project in Northwest Territories, Canada, São Jorge in Pará State, Brazil and La Mina in Antioquia, Colombia.
The Facility is subject to definitive documentation and conditions customary for a transaction of this nature.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 20 million shares of Gold Royalty Corp. (NYSE American: GROY).
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