G Mining completes $80M (U.S.) drawdown of facility

Executive Summary

• G Mining Ventures Corp. completed the first scheduled drawdown of $80 million (U.S.) under its $350 million (U.S.) revolving credit facility.
• The proceeds were used to fully repay the outstanding $80 million (U.S.) senior secured term loan previously held by Franco-Nevada GLW Holdings Corp.
• The refinancing is expected to generate annual interest savings of approximately $1.5 million (U.S.), strengthening the company's balance sheet and supporting ongoing development of the Oko gold project in Guyana and operations at Tocantinzinho.

Key Details

• Facility Details: $350 million (U.S.) revolving credit facility arranged with a syndicate of leading international lenders.
• Drawdown Amount: $80 million (U.S.) (First scheduled drawdown).
• Debt Repayment: Full repayment of the $80 million (U.S.) senior secured term loan from Franco-Nevada GLW Holdings Corp.
• Financial Impact: Annual interest savings of approximately $1.5 million (U.S.) at current effective rates.
• Facility Terms: Four-year term with a potential one-year extension at G Mining's option; secured by the corporation's assets on standard market terms.
• Use of Proceeds: Repayment of existing debt to optimize capital structure and improve capital efficiency.
• Strategic Context: Supports continued disciplined growth across the portfolio, including Tocantinzinho operations and the advancement of Oko West.

Notable Quotes

• "Executing this refinancing marks another step in optimizing our capital structure and improving capital efficiency," said Julie Lafleur, vice-president, finance, and chief financial officer. "By lowering our cost of debt, we're realizing meaningful savings while maintaining the financial strength to support Tocantinzinho's operations and the advancement of Oko West."