06:11:54 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Roxgold Inc (2)
Symbol ROXG
Shares Issued 372,116,228
Close 2020-06-29 C$ 1.53
Market Cap C$ 569,337,829
Recent Sedar Documents

Roxgold refinances Yaramoko credit facility

2020-06-30 06:55 ET - News Release

Mr. John Dorward reports

ROXGOLD REFINANCES EXISTING CREDIT FACILITY

Roxgold Inc. has successfully executed documentation to refinance its existing Yaramoko facility and secure an additional $20-million (U.S.) as a revolving credit facility to provide increased liquidity and financial flexibility.

The amended facility was financed through the company's existing senior bank financiers, Societe Generale and BNP Paribas. The facility refinances the current outstanding loan balance of $37-million (U.S.) with revised repayment terms extending the repayment period from June 30, 2021, to Dec. 30, 2022, which reflects the company's continued success in extending the project's mine life. The company has also secured an additional $20-million (U.S.) as a revolving credit facility to further support its growth initiatives.

President and chief executive officer John Dorward welcomed the support of the company's existing finance banks and was pleased to have secured flexible, low-cost financing in the current market environment: "I thank our existing banking partners for their long-standing support and recognition of the strength of our business. The facility provides immediate liquidity and strengthens our balance sheet whilst providing further financial flexibility. The deferment of repayment requirements will allow us to aggressively build cash on our balance sheet to support the development of the Seguela gold project, which is continuing to advance with the feasibility study on schedule for early in 2021."

About Roxgold Inc.

Roxgold is a Canada-based gold mining company with assets located in West Africa. The company owns and operates the high-grade Yaramoko gold mine, located on the Hounde greenstone belt in Burkina Faso, and is also advancing the development and exploration of the Seguela gold project, located in Ivory Coast.

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