Abcourt Announces Increase to Loan Financing With Nebari to Accelerate Sleeping Giant Mine Development

Core Viewpoint - Abcourt Mines Inc. has secured an additional USD$2,000,000 loan from Nebari Natural Resources Credit Fund II, LP, increasing the total borrowed amount to USD$10,000,000 to support the development of its Sleeping Giant Mine [1][2][3]. Group 1: Loan Agreement Details - The total amount borrowed from Nebari is USD$10,000,000, divided into two tranches: USD$8,000,000 on July 3, 2025, and USD$2,000,000 on September 10, 2025 [2]. - The amended loan agreement includes the addition of Tranche 2, with no other material changes to the original agreement [2]. Group 2: Use of Proceeds - The proceeds from the Upsized Loan will be utilized to accelerate the development of the Sleeping Giant Mine, including the addition of a third underground diamond drill to expand mineral resources [3]. Group 3: Management Comments - Pascal Hamelin, President and CEO of Abcourt, emphasized the importance of the partnership with Nebari and the operational benefits of increasing on-site workers to reduce costs and expedite underground development [4]. - Steven Bowles, Managing Director of Nebari, expressed satisfaction with the loan increase, highlighting the operational readiness plan that positions the project favorably in the current gold price environment [4]. Group 4: Warrants Issuance - In connection with the Upsized Loan, Abcourt issued 14,905,298 non-transferable warrants to Nebari, each exercisable for one common share at an exercise price of $0.093 until July 3, 2028 [4].