Lake Victoria Gold Secures up to a ~US$25 Million Gold Loan from Monetary Metals plus Fully Committed $3.0 Million Convertible Debenture Financing

Core Viewpoint - Lake Victoria Gold Ltd. has secured a gold loan facility of up to 6,000 ounces (approximately US$25 million) and a $3.0 million non-brokered convertible debenture financing to support the development of its Imwelo Gold Project in Tanzania, marking a significant step towards non-dilutive project-level financing [1][2][14]. Financing Details - The gold loan facility with Monetary Metals is designed to provide a non-dilutive financing solution, aligning repayment in gold ounces with future production from the Imwelo project [14]. - The convertible debenture financing consists of $3.0 million in unsecured debentures with a 5.0% annual interest rate, payable semi-annually, and a 36-month term [7][8]. - The principal amount of the debentures is convertible into common shares at a price of $0.31 per share, with investors receiving warrants to purchase additional shares [7][8]. Project Development - The financing will enable the company to accelerate work programs at the Imwelo Gold Project and advance initiatives at the Tembo Project [4][8]. - The company aims to bridge near-term capital requirements with longer-term project funding through this financing structure [4][6]. Management Commentary - The CEO emphasized the importance of this financing in advancing engineering and site activities at Imwelo, aiming to move the project toward development [4]. - The Executive Chairman highlighted the combination of gold-denominated financing and convertible debentures as a means to provide funding certainty while minimizing dilution [4]. Company Background - Lake Victoria Gold is focused on growth and consolidation in the Lake Victoria Goldfield in Tanzania, holding a 100% interest in both the Imwelo and Tembo projects [15][16]. - The company has a highly experienced team with a significant ownership stake, indicating strong management commitment to project success [17].