Artemis closes $700-million revolving credit facility

Executive Summary

• Artemis Gold closed a $700 million revolving credit facility (RCF) on September 26, 2025.
• The company simultaneously repaid its existing project loan facility by drawing approximately $450 million from the new RCF.
• The RCF enhances long‑term balance sheet liquidity and provides financial flexibility for upcoming Phase 1A and Phase 2 expansion projects at the Blackwater mine.

Key Details

• Facility Size: $700 million revolving credit facility.
• Closing Date: September 26, 2025.
• Loan Repayment: Project loan facility extinguished with a drawdown of ~$450 million from the RCF.
• Lender Syndicate: Includes existing lenders and a new first‑tier Canadian lender; specific institutions not disclosed.
• Use of Proceeds: To support Blackwater’s growth projects, including Phase 1A (33% capacity increase) and an accelerated larger Phase 2 expansion, with an investment decision targeted later in the year.
• Liquidity Impact: Provides additional long‑term balance sheet liquidity and financial flexibility for future development activities.

Notable Quotes

“We are pleased to have closed the RCF on a timely basis reflecting the merits of our Blackwater operation and the quality institutions in the lending syndicate… The RCF provides the company with additional long‑term balance sheet liquidity and financial flexibility to deliver on our future growth projects.” – Dale Andres, CEO, Artemis Gold Inc.