Troilus Secures US$35 Million Loan Facility to Advance Pre-Development Activities

Core Viewpoint - Troilus Gold Corp. has secured a loan agreement with Auramet International for up to US$35 million to support its near-term development activities, enhancing financial flexibility and reducing capital costs [1][2]. Loan Agreement Details - The loan agreement provides a principal amount of up to US$35 million (~CDN$49 million) to support final permitting, early works preparation, and project financing [1]. - The loan has an initial term of one year and is structured to be drawn down in tranches, with an initial tranche of US$15 million already advanced [2][3]. - The remaining US$20 million will be available for drawdown starting 90 days after the initial advance, subject to certain conditions [2]. Financial Terms - The loan bears a monthly interest rate of 1.0% on the outstanding balance and is secured by a negative pledge on the company's assets [3]. - Troilus has the option to prepay the loan without penalty and may extend the maturity for an additional six months at a higher interest rate of 1.25% per month [3]. Warrants Issuance - In consideration of the first tranche, the lender received 5,000,000 warrants exercisable at an exercise price of $0.60 per share [4]. - An additional 5,000,000 warrants will be issued upon the drawdown of the second tranche, with the exercise price set at a 10% premium to the 5-day VWAP prior to issuance [4]. Company Background - Troilus Gold Corp. is a Canadian development-stage mining company focused on advancing the former Troilus Mine towards production, located in Quebec [6]. - The company holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt and has a feasibility study supporting a 22-year, 50ktpd open-pit mining operation [6]. Auramet International - Auramet is a major player in the precious metals industry with over US$25 billion in annual revenues and provides a full range of services [5]. - The company acts as Troilus's senior advisor on project financing initiatives, bringing extensive industry expertise [5].