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Financings

Abcourt Mines cuts NSR royalty, upsizes Nebari loan

By The Northwire Desk — AI Analysis Sep 19, 2025 · 16:17 ABI · 0.085 Abcourt Mines Inc.
ABI · Price

Executive Summary

  • Abcourt exercised its option to reduce the NSR royalty on Sleeping Giant and Dormex properties from 2.0% to 1.5% by paying $2 million cash to Maverix Metals.
  • The company secured an additional $2 million loan from Nebari Natural Resources Credit Fund II LP, increasing total borrowings to $12 million across three tranches.
  • In connection with the upsized loan, Abcourt will issue 14,395,259 non‑transferable warrants at $0.096 per share, exercisable until July 3 2028 (subject to adjustments).

Key Details

  • Royalty Reduction: Net smelter return royalty lowered by 0.5 percentage points; further reduction to 1.0% possible with an additional $4 million payment before Sept. 22 2028.
  • Payment for First Option: $2 million (U.S.) cash paid to Maverix Metals as consideration for the initial 0.5 % royalty cut.
  • Loan Upsize: Additional $2 million loan from Nebari, bringing total borrowed amount to $12 million. Tranche schedule:
  • Tranche 1 – $8 million on July 3 2025
  • Tranche 2 – $2 million on Sept. 10 2025
  • Tranche 3 – $2 million on the date of this release (April 1 2026)
  • Use of Proceeds: Entire $2 million upsized loan proceeds used to fund the royalty‑reduction payment.
  • Warrant Issuance: 14,395,259 non‑transferable warrants issued to Nebari; each warrant exercisable for one common share at $0.096 per share.
  • Expiration: July 3 2028 (subject to pro‑rata reduction if principal is prepaid before July 3 2026).
  • Hold period: statutory four months and one day.
  • Approvals: Upsized loan and warrant issuance pending TSX‑V approval.

Notable Quotes

“We believe that reducing the NSR at Sleeping Giant mine will be perfect for the long‑term plan of Abcourt. Over the next few years, it's important for us to unlock the full potential of Sleeping Giant mine.” – Pascal Hamelin, President & CEO

“Nebari is pleased to provide further support to Abcourt in its ramp‑up of its Sleeping Giant mine and to assist its shareholders in unlocking more value from this project during this strong gold price environment.” – Steven Bowles, Managing Director, Nebari Natural Resources Credit Fund II LP

Read the original news release →

More from Abcourt Mines Inc.

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