Wesdome Gold Mines Ltd. Upsizes Revolving Credit Facility on Improve Terms and Extends Maturity

Published: 2025-06-19 11:50:22 ET WDO.TO

Published on 06/19/2025 at 11:50

Wesdome Gold Mines Ltd. announced that the Company has executed an amended and restated credit agreement with a syndicate of lenders to upsize and extend the maturity of its current secured revolving credit facility by an additional three years to June 19, 2028. Pursuant to the Agreement, the Credit Facility includes aggregate commitments of USD 250 million with an additional accordion of USD 50 million for a total of up to USD 300 million. This represents approximately a twofold increase from Wesdome?s current facility, which matures on August 31, 2025.

Advances under the Credit Facility will bear interest at the Secured Overnight Financing Rate (SOFR) plus a margin of 2.25% to 3.25% per annum depending on the Company?s leverage ratio. The Credit Facility may be used for general corporate purposes, including, but not limited to, acquisitions, distributions, investments and ongoing mine development. The Agreement includes standard and customary terms and conditions with respect to fees, representations, warranties and financial covenants.

National Bank Financial Inc. acted as sole lead arranger and bookrunner and Bank of Montreal as syndication agent. The syndicate of lenders was comprised of National Bank of Canada, Bank of Montreal, Fédération des Caisses Desjardins du Québec and Canadian Imperial Bank of Commerce. GenCap Mining Advisory acted as credit advisor to Wesdome with respect to the financing.