Mr. Elif Levesque reports
NOMAD ROYALTY COMPANY SECURES UP TO US$75 MILLION REVOLVING CREDIT FACILITY
Nomad Royalty Company Ltd. has entered into an agreement with Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Royal Bank of Canada for a $50-million (U.S.) revolving credit facility with the option to increase to $75-million (U.S.), subject to satisfaction of certain conditions.
Elif Levesque, chief financial officer of Nomad, commented: "In these unprecedented times, we are excited to be able to count on Scotia, CIBC and RBC as strong financial partners to Nomad. The completion of the facility will provide us with additional financial flexibility as we pursue the growth of our business and represents another important milestone in the evolution of our company."
The facility will be secured by all of the company's assets and will have an 18-month term, extendable through mutual agreement between Nomad, Scotia, CIBC and RBC. Closing of the facility is expected in the third quarter of 2020 and is subject to completion of definitive documentation and satisfaction of conditions precedent customary for a financing of this nature. Nomad intends to use the facility for future royalty and stream acquisitions.
Royalty Company Ltd.
Nomad Royalty Company is a gold and silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine.
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