TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) is pleased to announce that the Company has executed an amended and restated credit agreement (the “Agreement”) with a syndicate of lenders to upsize and extend the maturity of its current secured revolving credit facility (the "Credit Facility") by an additional three years to June 19, 2028.
Pursuant to the Agreement, the Credit Facility includes aggregate commitments of US$250 million with an additional accordion of US$50 million for a total of up to US$300 million. This represents approximately a twofold increase from Wesdome’s current facility, which matures on August 31, 2025.
Anthea Bath, President and Chief Executive Officer, commented, "We sincerely thank our lenders for their continued support and confidence in Wesdome. The substantial increase in our credit facility and the improved terms are a strong endorsement of the quality of our assets and the progress we've made. As we continue to grow, we remain focused on delivering long-term value as a disciplined, value-driven gold producer.”
Advances under the Credit Facility will bear interest at the Secured Overnight Financing Rate (SOFR) plus a margin of 2.25% to 3.25% per annum depending on the Company’s leverage ratio. The Credit Facility may be used for general corporate purposes, including, but not limited to, acquisitions, distributions, investments and ongoing mine development. The Agreement includes standard and customary terms and conditions with respect to fees, representations, warranties and financial covenants.
National Bank Financial Inc. acted as sole lead arranger and bookrunner and Bank of Montreal as syndication agent. The syndicate of lenders was comprised of National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec and Canadian Imperial Bank of Commerce.
GenCap Mining Advisory acted as credit advisor to Wesdome with respect to the financing.
The terms and conditions of the Credit Facility are set out in the Agreement that will be filed under the Company’s profile on SEDAR+ (www.sedarplus.ca).
About Wesdome Gold Mines
Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a growing value-driven gold producer.
| Contacts | ||
| Raj Gill | Trish Moran | |
| Interim Chief Financial Officer | Vice President, Investor Relations | |
| Phone: +1.416.360.3743 | Phone: +1.416.564.4290 | |
| E-Mail: invest@wesdome.com | E-mail: trish.moran@wesdome.com | |
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