Roxgold Refinances Existing Credit Facility
June 30, 2020
Source: Businesswire
Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTC: ROGFF) is pleased to announce that it has successfully executed documentation to refinance its existing Yaramoko Facility and secure an additional US$20 million as a revolving credit facility to provide increased liquidity and financial flexibility.
The amended Facility (“Facility”) was financed through our existing senior bank financiers, Societe Generale and BNP Paribas. The Facility refinances the current outstanding loan balance of US$37 million with revised repayment terms extending the repayment period from June 30, 2021 to December 30, 2022 which reflects the Company’s continued success in extending the project’s mine life. The Company has also secured an additional US$20 million as a revolving credit facility to further support its growth initiatives.
President and CEO, John Dorward, welcomed the support of our existing finance banks and was pleased to have secured flexible, low-cost funding in the current market environment. “I thank our existing banking partners for their long-standing support and recognition of the strength of our business. The Facility provides immediate liquidity and strengthens our balance sheet whilst providing further financial flexibility. The deferment of repayment requirements will allow us to aggressively build cash on our balance sheet to support the development of the Séguéla Gold Project which is continuing to advance with the Feasibility Study on schedule for early in 2021.”
About Roxgold
Roxgold is a Canadian-based gold mining company with assets located in West Africa. The Company owns and operates the high-grade Yaramoko Gold Mine located on the Houndé greenstone belt in Burkina Faso and is advancing the development and exploration of the Séguéla Gold Project located in Côte d’Ivoire. Roxgold trades on the TSX under the symbol ROXG and as ROGFF on OTCQX.
Contacts
Roxgold Inc.
Graeme Jennings, CFA
Vice President, Investor Relations
416-203-6401
gjennings@roxgold.com
Contacts
Roxgold Inc.
Graeme Jennings, CFA
Vice President, Investor Relations
416-203-6401
gjennings@roxgold.com
