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Abcourt Announces Increase to Loan Financing With Nebari to Accelerate Sleeping Giant Mine Development
Globenewswire· 2025-09-10 12:48
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].
Okeanis Eco Tankers Corp. – New Loan Agreement
GlobeNewswire News Room· 2025-06-17 20:15
Core Viewpoint - Okeanis Eco Tankers Corp. has secured a $65 million term loan facility to finance the purchase of the Nissos Kea, reflecting the company's strong financial position and relationships with financing partners [1][2][3] Group 1: Loan Details - The new secured term loan facility amounts to $65 million, with an interest rate of Term SOFR plus 135 basis points, maturing in seven years [1] - The loan will be repaid in quarterly installments of $0.9 million, with a balloon payment of $39.8 million at maturity [1] - The loan is secured by a mortgage over the Nissos Kea and guaranteed by the company, including standard covenants [1] Group 2: Financial Strategy - The company aims to improve its capital structure, having reduced debt service breakeven costs and extended maturity profiles through recent loan agreements [3] - The company has secured loans for its three youngest VLCC vessels, indicating competitive terms and maturities extending to 2032 [2] - There is potential for further enhancement of the company's debt position with upcoming refinancing opportunities in 2026 [3] Group 3: Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company, incorporated in 2018, providing seaborne transportation of crude oil and refined products [4] - The company's fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [4]