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Financings

Abcourt accepts $5.8M Investissement Quebec loan

By The Northwire Desk — AI Analysis Aug 22, 2025 · 12:38 ABI · 0.08 Abcourt Mines Inc.
ABI · Price

Executive Summary

  • Abcourt Mines Inc. has accepted loan offers totaling $5.8 million from Investissement Québec.
  • The financing consists of two bridge loans: up to $1.3 M (Loan No. 1) for FY ending June 30, 2025 and up to $4.5 M (Loan No. 2) for FY ending June 30, 2026.
  • Loans bear interest at prime + 2.55%, mature Dec 31 2026 (Loan 1) and Dec 31 2027 (Loan 2), secured by refundable tax‑credit security and a 10% support letter of credit.

Key Details

  • Total financing: $5.8 million principal.
  • Loan No. 1: Bridge loan up to $1.3 M; funds tax credits for fiscal year ending 30 Jun 2025; interest = prime + 2.55%; maturity 31 Dec 2026.
  • Loan No. 2: Bridge loan up to $4.5 M; funds tax credits for fiscal year ending 30 Jun 2026; interest = prime + 2.55%; maturity 31 Dec 2027.
  • Security package: First‑ranking security on refundable tax credits plus an irrevocable support letter of credit representing 10% of each loan amount.
  • Disbursement condition: Loans disbursed upon execution of definitive loan agreements and related security documents.
  • Purpose: Provide financing to support development of the Sleeping Giant project toward commercial production.

Notable Quotes

“We are very pleased to have Investissement Québec as a financial partner in the development of the Sleeping Giant project. This partnership provides significant support to Abcourt during this important phase of the project's development towards commercial production.” – Pascal Hamelin, President & CEO, Abcourt Mines Inc.

Read the original news release →

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