All amounts are in USD unless stated otherwise
BROSSARD, QC, April 23, 2024 /CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has drawn the remaining approximately $33 million on its $75 million senior secured term loan with an affiliate of Franco-Nevada Corporation (“Franco-Nevada“), as previously announced in July 2022. The proceeds of the term loan will be used to continue the development and construction of GMIN’s 100% owned Tocantinzinho Gold Project (“TZ” or the “Project“), currently under construction in the State of Pará, Brazil. The Project remains on track and on budget for commercial production in H2-2024.
In connection with the draw on the term loan, GMIN provided evidence to Franco-Nevada that it has sufficient funding to fully satisfy the remaining Project costs required to achieve commercial production and Project completion, as was the case for…
