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Wesdome Gold Mines Upsizes Revolving Credit Facility on Improved Terms and Extends Maturity

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Wesdome Gold Mines has successfully amended and extended its secured revolving credit facility, doubling its capacity to US$250 million with an additional US$50 million accordion feature. The facility's maturity has been extended by three years to June 19, 2028, from the current August 31, 2025 maturity. The new agreement includes improved terms, with interest rates set at SOFR plus 2.25% to 3.25% margin based on leverage ratios. The credit facility can be used for various corporate purposes including acquisitions, distributions, investments, and ongoing mine development. The syndicate of lenders includes National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec, and Canadian Imperial Bank of Commerce.
Wesdome Gold Mines ha con successo modificato e prorogato la sua linea di credito revolving garantita, raddoppiandone la capacità a 250 milioni di dollari USA, con un'opzione aggiuntiva di 50 milioni di dollari. La scadenza della linea è stata estesa di tre anni, passando dal 31 agosto 2025 al 19 giugno 2028. Il nuovo accordo prevede condizioni migliorate, con tassi di interesse fissati a SOFR più un margine dal 2,25% al 3,25% in base ai rapporti di leva finanziaria. La linea di credito può essere utilizzata per vari scopi aziendali, tra cui acquisizioni, distribuzioni, investimenti e sviluppo continuo delle miniere. Il consorzio di finanziatori comprende National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec e Canadian Imperial Bank of Commerce.
Wesdome Gold Mines ha modificado y ampliado con éxito su línea de crédito revolvente garantizada, duplicando su capacidad a 250 millones de dólares estadounidenses, con una característica adicional de acordeón de 50 millones de dólares. El vencimiento de la línea se ha extendido tres años, del 31 de agosto de 2025 al 19 de junio de 2028. El nuevo acuerdo incluye condiciones mejoradas, con tasas de interés establecidas en SOFR más un margen del 2,25% al 3,25% según los ratios de apalancamiento. La línea de crédito puede utilizarse para diversos fines corporativos, incluyendo adquisiciones, distribuciones, inversiones y desarrollo continuo de minas. El sindicato de prestamistas incluye National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec y Canadian Imperial Bank of Commerce.
Wesdome Gold Mines는 담보 회전 신용 한도를 성공적으로 수정 및 연장하여 용량을 2억 5천만 달러로 두 배 늘리고 추가로 5천만 달러의 확장 옵션을 마련했습니다. 신용 한도의 만기는 기존 2025년 8월 31일에서 2028년 6월 19일까지 3년 연장되었습니다. 새로운 계약은 레버리지 비율에 따라 SOFR에 2.25%에서 3.25%의 마진을 더한 금리로 개선된 조건을 포함합니다. 이 신용 한도는 인수, 배당, 투자 및 지속적인 광산 개발 등 다양한 기업 목적에 사용할 수 있습니다. 대출자 연합에는 National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec, Canadian Imperial Bank of Commerce가 포함되어 있습니다.
Wesdome Gold Mines a réussi à modifier et à prolonger sa facilité de crédit renouvelable garantie, doublant ainsi sa capacité à 250 millions de dollars américains, avec une option supplémentaire de 50 millions de dollars. L'échéance de la facilité a été prolongée de trois ans, passant du 31 août 2025 au 19 juin 2028. Le nouvel accord comprend des conditions améliorées, avec des taux d'intérêt fixés à SOFR plus une marge de 2,25 % à 3,25 % selon les ratios d'endettement. La facilité de crédit peut être utilisée pour divers besoins corporatifs, y compris les acquisitions, distributions, investissements et le développement continu des mines. Le syndicat de prêteurs comprend la National Bank of Canada, la Bank of Montreal, la Fédération des Caisses Desjardins du Québec et la Canadian Imperial Bank of Commerce.
Wesdome Gold Mines hat seine besicherte revolvierende Kreditfazilität erfolgreich geändert und verlängert, wodurch die Kapazität auf 250 Millionen US-Dollar verdoppelt wurde, mit einer zusätzlichen Akkordeon-Option von 50 Millionen US-Dollar. Die Laufzeit der Fazilität wurde von bisher dem 31. August 2025 auf den 19. Juni 2028 um drei Jahre verlängert. Die neue Vereinbarung beinhaltet verbesserte Konditionen, mit Zinssätzen, die auf SOFR plus einer Marge von 2,25 % bis 3,25 % basieren, abhängig von den Verschuldungsgraden. Die Kreditfazilität kann für verschiedene Unternehmenszwecke genutzt werden, darunter Akquisitionen, Ausschüttungen, Investitionen und die laufende Minenentwicklung. Das Kreditgeberkonsortium umfasst die National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec und Canadian Imperial Bank of Commerce.
Positive
  • Credit facility doubled to US$250 million with additional US$50 million accordion feature
  • Extended maturity by 3 years to June 2028
  • Improved lending terms indicating strong lender confidence
  • Increased financial flexibility for acquisitions, investments, and mine development
Negative
  • Increased debt capacity could lead to higher leverage if fully utilized
  • Variable interest rate exposure with SOFR plus 2.25-3.25% margin

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
   

PDF available: http://ml.globenewswire.com/Resource/Download/01449a84-66e8-46d7-92c3-2c4e0846194b


FAQ

What is the new size of Wesdome Gold Mines' credit facility?

Wesdome's new credit facility is US$250 million with an additional US$50 million accordion feature, for a total potential of US$300 million

When does WDOFF's new credit facility mature?

The new credit facility matures on June 19, 2028, extended from the previous maturity date of August 31, 2025

What is the interest rate on Wesdome's new credit facility?

The facility bears interest at SOFR plus a margin of 2.25% to 3.25% per annum, depending on the company's leverage ratio

What can Wesdome use the credit facility for?

The facility can be used for general corporate purposes, including acquisitions, distributions, investments, and ongoing mine development

Which banks are part of Wesdome's lending syndicate?

The syndicate includes National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec, and Canadian Imperial Bank of Commerce
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WDOFF Stock Data

1.65B
149.60M
0.17%
46.21%
Gold
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Canada
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