G Mining Ventures Secures Bank Credit Facility and Equipment Financing to Construct Oko West

Rhea-AI Summary

G Mining Ventures (OTCQX: GMINF / TSX: GMIN) announced commitments for an initial US$387.5M financing package to fund construction of the 100%‑owned Oko West gold project in Guyana. The package includes a senior secured revolving credit facility of US$350M (with a six‑month accordion for an additional US$150M) and equipment financing of up to US$37.5M from Komatsu Finance. Pricing is SOFR + credit spread adj. and a margin of 2.75%–3.75%. Following an environmental permit received on Sept 2, 2025, the company says it is positioned to make a Final Investment Decision later in October 2025.

Positive

• US$387.5M initial financing committed
• Revolving facility of US$350M with US$150M accordion
• Equipment financing up to US$37.5M with Komatsu Finance
• Environmental permit received Sept 2, 2025; FID planned Oct 2025
• Financing described as non‑dilutive by the company

Negative

• Facility maturity initially up to 3 years (short tenor)
• Accordion US$150M and closing are subject to lender approval
• Pricing exposes GMIN to SOFR fluctuations plus a 2.75%–3.75% margin
• Use of proceeds includes refinancing existing debt rather than solely Oko West capex

BROSSARD, QC, Oct. 6, 2025 /PRNewswire/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has secured commitments for an initial US$387.5 million ("M") financing package, with the potential to be increased by an additional US$150M beginning six months after closing, subject to lender approval. This financing package, which could total up to US$537.5M, provides the Corporation with the financial flexibility to advance the development and construction of its 100%-owned Oko West Gold Project ("Oko West" or the "Project") in Guyana.

The financing package is anchored by 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 Corporation to borrow up to US$350M, with an accordion feature for an additional US$150M available post-closing, subject to customary conditions. The Syndicate is led by National Bank Capital Markets ("National Bank") and Macquarie Bank Limited ("Macquarie") as joint bookrunners and co-lead arrangers, with participation from Bank of Montreal, ING Capital LLC, Royal Bank of Canada, Citibank and CIBC.

In addition, Komatsu Finance Chile S.A. ("Komatsu Finance"), a subsidiary of global equipment leader Komatsu Ltd., and GMIN Ventures Guyana Inc., an indirect wholly owned subsidiary of GMIN, are pleased to announce the execution of a Master Loan and Security Agreement ("MLSA") to finance the procurement of mining and construction equipment for the development of the Project. Under the terms of the MLSA, Komatsu Finance will provide financing through multiple equipment notes with a total principal amount not to exceed US$37.5M.

"With these financing arrangements in place, together with strong cash flow from the Tocantinzinho Mine, we now have the financial resources required to bring Oko West into production," commented Julie Lafleur, VP Finance & Chief Financial Officer. "This entirely non-dilutive package increases financial capacity, provides additional flexibility, and reflects the confidence of National Bank, Macquarie, Komatsu Finance and the broader syndicate in our ability to deliver. We remain focused on disciplined capital allocation and advancing Oko West responsibly, on schedule, and within budget to generate meaningful value for all stakeholders."

Following the receipt of the Oko West environmental permit from Guyana's Environmental Protection Agency on September 2, 2025, and with this financing package now in place, GMIN is positioned to make a Final Investment Decision ("FID") on the Project later this month, which will outline the forecasted initial capital cost, investment incurred to date, and remaining expenditures through to completion.

Summary of Revolving Credit Facility Terms :

• Credit Facility: Senior secured revolving facility of US$350M, with an accordion option for an additional US$150M available six months after closing, subject to lender approval.
• Maturity: Initial term of up to 3 years from closing, with annual extension options to reset tenor back to 3 years subject to lender's consent.
• Use of Proceeds: General corporate purposes, including refinancing existing debt, Oko West Project development and supporting working capital.
• Pricing: SOFR plus a 0.10% credit spread adjustment, and an applicable margin ranging from 2.75% to 3.75%, depending on the net leverage ratio.

Strengthening GMIN Leadership Team

In conjunction with this announcement, GMIN is also pleased to welcome Jamie Flegg as Vice President, Corporate Development. Mr. Flegg brings over 12 years of experience across mining capital markets, including corporate development, investor relations, private equity, and investment banking. Most recently, he served as Chief Development Officer at Sigma Lithium, and previously as Director, Investment Management at Waterton Global Resource Management. He began his career in Investment Banking with Red Cloud Securities. Mr. Flegg is a Chartered Financial Analyst (CFA), holds an MBA and a Bachelor of Science (Honours) from Queen's University, and currently serves on the Board of Directors of Comet Lithium Corporation.

"We are excited to welcome Jamie to the GMIN leadership team," said Louis-Pierre Gignac, President & Chief Executive Officer. "His proven track record in corporate development and capital markets will be instrumental as we continue to execute our disciplined growth strategy and position GMIN as the next mid-tier gold producer. His addition further strengthens our ability to engage with global capital markets as we enter this next phase."

About G Mining Ventures Corp.

G Mining Ventures Corp. is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Mine in Brazil, supported by the Gurupi Project in Brazil and the Oko West Project in Guyana — all with significant exploration upside and located in mining-friendly jurisdictions. 

Cautionary Statement on Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the Revolving Credit Facility being subject to customary conditions; (ii) the potential to increase financing commitments to US$150M; (iii) the proceeds from the Revolving Credit Facility to be used primarily for construction of Oko West, with flexibility for general corporate purposes and/or repayment of existing debt; (iv) the Corporation having the financial resources to bring Oko West into production; and (v) in general, the section entitled "About G Mining Ventures Corp." as well as the quoted comments of GMIN's President & Chief Executive Officer.

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such  assumptions include, without limitation, those relating to the price of gold and currency exchange rates, those relating to the Corporation meeting the conditions precedent to close the Revolving Credit Facility and to eventually exercise the accordion option (in whole or in part), and those underlying the items listed in the above section entitled "About G Mining Ventures Corp.".

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) a formal construction for Oko West will be made in H2-2025, or at all; (ii) the Corporation will, by closing the Revolving Credit Facility, deliver a high-quality project that will generate meaningful value for all stakeholders; (iii) the full US$150M accordion will be used; (iv) the MLSA with Komatsu Finance will be used for the full amount of US$37.5M; (v) Guyana will remain attractive for mining investment; (vi) Oko West will advance responsibly and on schedule and GMIN will achieve its stated objectives in respect thereof; or (vii) TZ and Oko West will grow GMIN into the next mid-tier precious metals producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the Corporation's (i) Annual Information Form dated March 27, 2025, for the financial year ended December 31, 2024, and (ii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

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SOURCE G Mining Ventures Corp

FAQ

How much financing did G Mining Ventures (GMINF) secure to build Oko West on October 6, 2025?

The PR states an initial committed package of US$387.5M, potentially up to US$537.5M with a US$150M accordion.

What are the key terms of GMIN's revolving credit facility announced Oct 6, 2025?

A senior secured revolving facility of US$350M, accordion of US$150M, maturity up to 3 years, pricing at SOFR + 0.10% adj. plus a margin of 2.75%–3.75%.

When will G Mining Ventures make a Final Investment Decision (FID) for Oko West?

According to the PR, GMIN is positioned to make an FID later in October 2025 following the environmental permit.

Does the Oko West financing dilute GMIN shareholders (GMINF)?

The company describes the financing as entirely non‑dilutive in the press release.

Who are the lead arrangers and participants in GMIN's financing announced Oct 6, 2025?

Joint bookrunners and co‑lead arrangers are National Bank Capital Markets and Macquarie, with BMO, ING Capital, RBC, Citibank and CIBC participating.

What equipment financing did G Mining Ventures secure for Oko West on Oct 6, 2025?

Komatsu Finance will provide equipment financing through multiple notes up to a total principal of US$37.5M under a Master Loan and Security Agreement.

What material risks did GMIN disclose about the Oct 6, 2025 financing?

The PR notes the facility and accordion are subject to customary conditions and lender approval, and forward‑looking risks including timing and full draw of amounts.