VANCOUVER, BC, Oct. 29, 2021 /CNW/ - GoldMining Inc. (the
"Company" or "GoldMining") (TSX: GOLD) (NYSE
American: GLDG) is pleased to announce that, further to its
news release dated October 21, 2021,
it has entered into and closed an agreement for a US$20 million loan facility (the
"Facility") with the Bank of Montreal.
The Facility is available for general corporate purposes,
acquisitions and to continue to advance Company projects including
the previously announced preliminary economic assessments for the
100% owned Yellowknife Gold Project in Northwest Territories, Canada, São Jorge Gold
Project in Pará State, Brazil and
La Mina Project in Antioquia, Colombia.
The Facility is subject to an interest rate of 3-month USD LIBOR
plus 5.65% per annum and customary margin requirements. The
Facility has a maturity of one year, may be extended for an
additional one-year period, subject to lender approval, and is
secured by shares of Gold Royalty Corp. owned by the Company.
Pursuant to the terms of the Facility a minimum initial advance of
US$10 million of the $20 million Facility occurred.
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 Company's project plans. 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: 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, including the availability of future
borrowings under the Facility. 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.
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SOURCE GoldMining Inc.