An anonymous director reports
GOLDMINING COMPLETES US$20 MILLION NON-DILUTIVE FACILITY WITH BANK OF MONTREAL
Further to its news release dated Oct. 21, 2021, Goldmining Inc. has entered into and closed an agreement for a $20-million (U.S.) loan facility with Bank of Montreal.
The facility is available for general corporate purposes, acquisitions and to continue to advance company projects, including the previously announced preliminary economic assessments for the 100-per-cent-owned Yellowknife gold project in Northwest Territories, Canada; the Sao Jorge gold project in Para state, Brazil; and the La Mina project in Antioquia, Colombia.
The facility is subject to an interest rate of three-month U.S.-dollar Libor (London interbank offered rate) plus 5.65 per cent per annum and customary margin requirements. The facility has a maturity of one year, may be extended for an additional one-year period, subject to lender approval, and is secured by shares of Gold Royalty Corp. owned by the company.Pursuant to the terms of the facility, a minimum initial advance of $10-million (U.S.) of the $20-million (U.S.) facility has occurred.
About Goldmining Inc.
Goldminingis 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, the United States, Brazil, Colombia and Peru.The company also owns 20 million shares of Gold Royalty.
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