Artemis Gold Inc. (TSX-V: ARTG) is pleased to announce that on February 28, 2023 it executed definitive documents for a syndicated project facility with National Bank of Canada, Macquarie Bank Limited, ING Capital LLC, Société Générale and Bank of Montreal in respect of its previously announced $385 million Project Loan Facility to fund a significant component of the estimated construction costs of the Company’s Blackwater Gold Project in central British Columbia. The PLF also provides for a $40 million standby cost overrun facility.
The terms of the PLF are substantially consistent with those announced in the Company’s news release dated February 24, 2022 and include the following:
Utilizing the PLF is subject to the satisfaction of certain customary conditions precedent. The PLF is secured through guarantees and a first ranking charge on all assets of the Company and each of its material subsidiaries.
Steven Dean, Chairman and CEO commented, “Execution of the definitive documents for the PLF is yet another major milestone on the development path for Blackwater. The calibre of the syndicate banks who have joined the leads National Bank and Macquarie is further testimony to the financial strength of the Project.”
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