The TSX Venture Exchange has accepted for filing documentation in relation to a senior debt facility of $45-million (U.S.) between Adventus Mining Corp. and an arm's-length lender. The credit facility has a term of five years and bears an interest rate of SOFR (secured overnight financing rate) (subject to a 0.5-per-cent SOFR floor) plus 8 per cent per annum. Furthermore, in connection with the credit facility, an arrangement fee equal to 2 per cent of the total amount available under the credit facility will be added to the principal amount owing with respect to the first draw. In addition, an availability fee of 2 per cent per annum is payable quarterly on the amounts that have not been drawn at any time until Feb. 1, 2025.

Additionally, the exchange has accepted for filing the issuance of 13.5 million non-transferable bonus warrants in connection with the closing of the first draw of the credit facility in the amount of $5-million (U.S.). Each bonus warrant is exercisable into one common share at an exercise price of 44.8 cents per share until Aug. 3, 2026.

For further details, refer to the company's news releases dated Aug. 4, 2022, July 14, 2023, and July 20, 2023.