Discovery Announces Agreement for US$250 Million Revolving Credit Facility
Discovery Silver Corp. (OTCQX: DSVSF) has secured a US$250 million revolving credit facility with a syndicate of financial institutions including BMO, CIBC, and NBC. The facility, maturing on September 15, 2028, includes an accordion feature for an additional US$100 million subject to conditions.
The facility will replace the company's existing undrawn US$100 million senior debt facility with Franco-Nevada GLW Holdings Corp. Interest rates will be based on Term SOFR plus margins ranging from 2.50% to 3.50% per annum, depending on the company's leverage ratio. The facility will support Discovery's growth strategy across its operations in Canada and Mexico, including the Cordero silver project and the recently acquired Porcupine Complex gold operations.
Discovery Silver Corp. (OTCQX: DSVSF) ha ottenuto una linea di credito revolving di US$250 milioni con un sindacato di istituzioni finanziarie che include BMO, CIBC e NBC. La facility, con scadenza al 15 settembre 2028, prevede una funzione accordion per ulteriori US$100 milioni soggetti a condizioni.
La linea sostituirà l’attuale linea di debito senior non impiegata di US$100 milioni con Franco-Nevada GLW Holdings Corp. I tassi di interesse saranno basati su Term SOFR più margini che variano dal 2,50% al 3,50% all’anno, a seconda del leverage dell’azienda. La facility supporterà la strategia di crescita di Discovery nelle sue operazioni in Canada e in Messico, inclusi il progetto argentifero Cordero e le recentemente acquisite operazioni aurifere del Porcupine Complex.
Discovery Silver Corp. (OTCQX: DSVSF) ha asegurado una línea de crédito revolvente de US$250 millones con un sindicato de instituciones financieras que incluye BMO, CIBC y NBC. La facilidad, que vence el 15 de septiembre de 2028, incluye una función acordeón para US$100 millones adicionales sujeta a condiciones.
La línea reemplazará la actual facilidad de deuda senior no utilizada de US$100 millones con Franco-Nevada GLW Holdings Corp. Las tasas de interés se basarán en Term SOFR más márgenes que oscilan entre 2,50% y 3,50% anual, dependiendo del índice de apalancamiento de la empresa. La facilidad apoyará la estrategia de crecimiento de Discovery en sus operaciones en Canadá y México, incluyendo el proyecto de plata Cordero y las recientemente adquiridas operaciones de oro del Porcupine Complex.
Discovery Silver Corp. (OTCQX: DSVSF)가 미화 2억 5천만 달러 한도 회전금융 시설을 BMO, CIBC, NBC를 포함한 금융기관 연합과 체결했다. 만기는 2028년 9월 15일이며, 조건부로 추가 미화 1억 달러의 어 accordion 기능이 있다.
이 금융은 프랑코-네바다 GLW Holdings Corp.와의 기존 미사용 1억 달러 선순위 부채 시설을 대체한다. 금리 는 Term SOFR에 마진 2.50%에서 3.50%를 더한 mức으로, 회사의 레버리지 비율에 따라 달라진다. 이 시설은 캐나다와 멕시코에서의 디스커버리의 성장 전략을 지원하며, Cordero 은 은 프로젝트와 최근 인수한 Porcupine Complex의 금 운영을 포함한다.
Discovery Silver Corp. (OTCQX: DSVSF) a obtenu une ligne de crédit revolving de 250 millions de dollars US auprès d’un syndic d’institutions financières incluant BMO, CIBC et NBC. La facilité, qui arrive à échéance le 15 septembre 2028, comprend une clause accordéon pour 100 millions de dollars US supplémentaires sous réserve de conditions.
Cette ligne remplacera l’actuelle facilité d’endettement senior non utilisée de 100 millions de dollars US avec Franco-Nevada GLW Holdings Corp. Les taux d’intérêt seront basés sur le Term SOFR majoré de marges allant de 2,50% à 3,50% par an, en fonction du ratio d’endettement de la société. La facilité appuiera la stratégie de croissance de Discovery dans ses opérations au Canada et au Mexique, y compris le projet d’argent Cordero et les opérations aurifères récemment acquises du Porcupine Complex.
Discovery Silver Corp. (OTCQX: DSVSF) hat eine revolvierende Kreditfazilität über US$ 250 Millionen mit einem Syndikat von Finanzinstituten einschließlich BMO, CIBC und NBC gesichert. Die Fazilität läuft am 15. September 2028 ab und umfasst eine Accordion-Funktion für zusätzliche US$ 100 Millionen vorbehaltlich Bedingungen.
Die Fazilität wird die bestehende ungenutzte Senior-Schuldfazilität über US$ 100 Millionen mit Franco-Nevada GLW Holdings Corp. ersetzen. Die Zinssätze basieren auf Term SOFR zu Margen von 2,50% bis 3,50% pro Jahr, abhängig vom Leverage-Verhältnis des Unternehmens. Die Fazilität wird Discovery's Wachstumsstrategie in Kanada und Mexiko unterstützen, einschließlich des Cordero-Silberprojekts und der kürzlich übernommenen Goldbetriebs des Porcupine Complex.
Discovery Silver Corp. (OTCQX: DSVSF) قد أمنت تسهيلاً ائتمانياً دواراً بقيمة 250 مليون دولار أمريكي مع ائتلاف من المؤسسات المالية يشمل BMO وCIBC وNBC. ينتهي هذا التسهيل في 15 سبتمبر 2028، ويتضمن ميزة Accordion لإضافة مبلغ 100 مليون دولار أمريكي إضافي وفق شروط.
سيحل التسهيل محل تسهيل الدين العالي الحالي غير المستخدم بقيمة 100 مليون دولار أمريكي مع Franco-Nevada GLW Holdings Corp. ستعتمد أسعار الفائدة على Term SOFR مضافاً إليها هوامش تتراوح من 2.50% إلى 3.50% سنوياً، وفقاً لنسبة الرفع المالي للشركة. سيدعم هذا التسهيل استراتيجية نمو Discovery عبر عملياته في كندا والمكسيك، بما في ذلك مشروع الفضة Cordero وعمليات الذهب المكتسبة مؤخرًا في Porcupine Complex.
Discovery Silver Corp. (OTCQX: DSVSF) 已获得一项价值2.5亿美元的循环信贷额度，由包含BMO、CIBC和NBC在内的金融机构联合提供。该额度于2028年9月15日到期，并包含可扩展至额外1亿美元的Accordion功能，需满足条件。
该额度将取代公司现有未使用的1亿美元高级债务额度，涉及 Franco-Nevada GLW Holdings Corp.。利率将基于Term SOFR并加上2.50%至3.50%的年息区间，取决于公司杠杆比率。该额度将支持Discovery在加拿大和墨西哥的扩张策略，包括Cordero银矿项目以及最近收购的Porcupine Complex金矿运营。
- Secured significant US$250 million credit facility with potential for US$100 million expansion
- Extended maturity timeline to September 2028 provides long-term financial flexibility
- Facility replaces smaller US$100 million debt facility, increasing available capital
- Support from major financial institutions (BMO, CIBC, NBC) demonstrates credibility
- Interest rates tied to Term SOFR plus up to 3.50% margin could result in significant financing costs
- Facility is secured by all assets of the Company and material subsidiaries
- Drawdowns subject to satisfaction of customary conditions precedent may limit immediate access
TORONTO, Sept. 15, 2025 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) today announced that the Company has entered into an agreement (the “Agreement”) with a syndicate of financial institutions (the “Syndicate”) for a revolving credit facility (the “Revolving Credit Facility” or “Facility”) that allows the Company to borrow up to US
Tony Makuch, Discovery’s CEO, commented: “The Revolving Credit Facility we have arranged with the Syndicate will provide both increased financial capacity and greater flexibility as we advance our attractive growth profile in both Canada and Mexico. We appreciate the support BMO, CIBC and NBC have demonstrated in entering into the Agreement with Discovery and look forward to working with them as we continue to build the value of our company.”
The Facility will mature on September 15, 2028, and is available for general corporate and working capital purposes, including financing future investments as the Company advances its growth strategy. The Facility includes terms and conditions customary for a transaction of this nature, and is secured by all assets of the Company and its material subsidiaries. Advances under the Facility are subject to the satisfaction of certain customary conditions precedent.
The Facility is available by way of (i) term Secured Overnight Financing Rate (“Term SOFR”) loans, with interest accruing at Term SOFR plus a credit spread adjustment of
Following the entering into of the Agreement, Discovery will terminate the existing term loan agreement with Franco-Nevada GLW Holdings Corp. involving a US
ABOUT DISCOVERY
Discovery is a growing North American-focused precious metals company. The Company has exposure to silver through its first asset, the
On Behalf of the Board of Directors,
Tony Makuch, P. Eng
President, CEO & Director
For further information contact:
Mark Utting, CFA
SVP Investor Relations
Phone: 416-806-6298
Email: mark.utting@discoverysilver.com
Website: www.discoverysilver.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements relating to expected future events, including without limitation the satisfaction of all conditions precedent for the execution and delivery of the final documentation relating to the Facility, the realization of anticipated benefits relating to the Facility including but not limited to the Company’s growth plans, potential finance investments and acquisitions, all of which involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results and growth plans may change, and may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including the impossibility to satisfy the conditions precedent set out in the Facility in order to finalize the definitive documents and draw down on the Facility, market and general economic conditions (including as a result of tariffs and other trade measures); price of gold and other commodities; timing of receipt of permits, availability of water and power, availability of labour and other local economics, and the other risks and uncertainties discussed in the materials filed by the Company with the Canadian securities regulatory authorities and available on SEDAR+ at www.sedarplus.ca. There can be no assurance as of the completion or financing of the Facility referred to above.
Due to the potential impact of these factors, Discovery disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
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