VANCOUVER, BC, Oct. 21, 2021 /PRNewswire/ - GoldMining Inc.
(the "Company" or "GoldMining") (TSX: GOLD) (NYSE
American: GLDG) is pleased to announce that it has received
a commitment for a US$20
million loan facility (the "Facility") with Bank
of Montreal ("BMO").
Alastair Still, CEO of
GoldMining, commented, "Throughout the growth of our business, we
have adhered to a financially disciplined approach to value
creation, evidenced by the fact that the Company last completed an
equity raise five years ago. We entered the new phase of our
business growth, which is to unlock the value of our resource
portfolio, with the IPO of Gold Royalty Corp. Our continued
interest in Gold Royalty, which has a current market value of
approximately US$110 million, has
further strengthened our balance sheet. As we maintain our
disciplined approach, and plan to continue harnessing value from
our projects, this Facility strengthens our balance sheet while
maintaining our continued exposure to Gold Royalty."
The Facility will be subject to an interest rate of 3-month USD
LIBOR plus 5.65% per annum and customary margin requirements. The
Facility will have a maturity of one year, may be extended for an
additional one-year period, subject to lender approval, and will be
secured by shares of Gold Royalty Corp. owned by the Company.
The Facility will be available for general corporate purposes,
acquisitions and to continue to advance company projects including
the previously announced preliminary economic assessments at the
100% owned Yellowknife Gold project in Northwest Territories, Canada, São Jorge in
Pará State, Brazil and La Mina in
Antioquia, Colombia.
The Facility is subject to definitive documentation and
conditions customary for a transaction of this nature.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused
on the acquisition and development of gold assets in the Americas.
Through its disciplined acquisition strategy, GoldMining now
controls a diversified portfolio of resource-stage gold and
gold-copper projects in Canada,
U.S.A., Brazil, Colombia, and Peru. The Company also owns 20 million
shares of Gold Royalty Corp. (NYSE American: GROY).
Forward-looking Statements
This document contains certain forward-looking statements
that reflect the current views and/or expectations, including
regarding the proposed Facility and the Company's proposed
plans for its projects. Forward-looking statements are based on the
then-current expectations, beliefs, assumptions, estimates and
forecasts about the business and the markets in which GoldMining
operates. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including: any
inability to finalize and complete definitive documentation
respecting the Facility or satisfy the other conditions or to
complete the transaction as contemplate or at all; delays to plans
caused by restrictions and other future impacts of COVID-19 or any
other inability of the Company to meet expected timelines for
planned project activities, including the timing of proposed
project studies and programs; the inherent risks involved in the
exploration and development of mineral properties, fluctuating
metal prices, proposed studies may not confirm GoldMining's
expectations for its projects, unanticipated costs and expenses,
risks related to government and environmental regulation, social,
permitting and licensing matters, and uncertainties relating to the
availability and costs of financing needed in the future. These
risks, as well as others, including those set forth in GoldMiningꞌs
Annual Information Form for the year ended November 30, 2020, and other filings with
Canadian securities regulators and the U.S. Securities and Exchange
Commission, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance
on forward-looking statements and information. There can be no
assurance that forward-looking information, or the material factors
or assumptions used to develop such forward-looking information,
will prove to be accurate. The Company does not undertake any
obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by
applicable securities law.
View original
content:https://www.prnewswire.com/news-releases/goldmining-announces-us20-million-non-dilutive-facility-with-bank-of-montreal-301405385.html
SOURCE GoldMining Inc.