Lode Gold Extends Construction Loan Agreement Until 2028
Rhea-AI Summary
Lode Gold (OTCQB: LODFF) amended its construction loan with Romspen, extending the loan maturity from Oct 31, 2026 to May 1, 2028. An extension fee of 2% applies to the original principal; half of that fee is rebated for early repayment on or before May 1, 2027.
The company says the amendment provides stability to advance the Fremont Gold mine over the next two years and aligns with its strategy to unlock shareholder value.
Positive
- Loan maturity extended to May 1, 2028, providing near‑term financing runway
- Early‑repayment rebate: 50% of 2% extension fee if repaid on or before May 1, 2027
- Company cites improved stability to advance the Fremont Gold mine over the next two years
Negative
- Extension fee of 2% applies to the original principal, increasing financing cost
- Extension pushes principal repayment schedule ~18 months later, potentially raising cumulative financing expense
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2026) - Lode Gold Resources Inc (TSXV: LOD) (OTCQB: LODFF) announces that it has entered into an amendment to its construction loan agreement with Romspen Investment Corporation (the "Lender"), extending the maturity date of the loan to May 1, 2028 from Oct 31, 2026.
Extension fee (
This amendment aligns with Lode Gold's objectives, strategy and plans, and provides stability for the Company to continuously advance the Fremont Gold mine in the next two years to unlock value for shareholders.
About Lode Gold
Lode Gold has key assets in Canada and the United States.
Fremont Gold Mine Project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, California with 43,000 m drilled, 10,000 underground channel samples, 14 adits and 2 shafts. Mining halted in 1942 due to the gold mining prohibition during WW II. It was mined at 10.7 g/t when price was gold was
Dingman Property is an orogenic deposit in Ontario, Canada with over 22,000 m drilled, with a 2013 PEA, MRE (link to report) : 376,000 oz at 0.94 g/t (M&I) and 47,000 oz at 0.71 g/t (Inferred.
Qualified Person
The technical information contained in this press release was reviewed and approved by Gary Wong, P.Eng., VP Exploration of Lode Gold, designated as a qualified person under National Instrument 43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director
info@lode-gold.com
+1(604) 977-GOLD (4653)
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1(604) 977-GOLD (4653)
Cautionary Statement Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; and currency fluctuations.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, business disruptions, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
1 0.25 g/t for oxide, 0.45 g/t for open pit mineralization and 1.45 g/t for underground mineralization
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295644