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

Rhea-AI Summary

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.

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