Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to announce the Corporation has closed the US$100 million project financing facility to support construction of the Zgounder Silver Mine expansion in the Kingdom of Morocco.
As announced in the news release dated October 25, 2022, the Facility consists of a US$92 million loan provided by the European Bank for Reconstruction and Development and a US$8 million tranche (pari-passu with the EBRD) by the Climate Investment Funds through its Clean Technology Fund.
Key terms of the loan agreement remain unchanged and include:
“This project financing, along with the recently completed and very successful equity offering, corroborates our positive view on Morocco and provides Aya financial flexibility as we continue with the Zgounder Silver Mine expansion,” said Benoit La Salle, President and CEO. “For this, we would like to thank our funding partners, who have worked diligently to close this Facility, and we look forward to delivering value for all stakeholders and achieving the operational and ESG milestones set out by this partnership.”
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team has been focused on maximizing shareholder value by anchoring sustainability at the heart of its operations, governance, and financial growth plans.
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