GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that, further to its news release dated October 21, 2021, it has entered into and closed an agreement for a US$20 million loan facility with the Bank of Montreal.
The Facility is available for general corporate purposes, acquisitions and to continue to advance Company projects including the previously announced preliminary economic assessments for the 100% owned Yellowknife Gold Project in Northwest Territories, Canada, São Jorge Gold Project in Pará State, Brazil and La Mina Project in Antioquia, Colombia.
The Facility is subject to an interest rate of 3-month USD LIBOR plus 5.65% per annum and customary margin requirements. The Facility has a maturity of one year, may be extended for an additional one-year period, subject to lender approval, and is secured by shares of Gold Royalty Corp. owned by the Company. Pursuant to the terms of the Facility a minimum initial advance of US$10 million of the $20 million Facility occurred.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 20 million shares of Gold Royalty Corp.
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We acknowledge the [financial] support of the Government of Canada.