08 November 2024
ACG METALS
LIMITED
("ACG" or
the "Company")
Update on
Gediktepe Acquisition Debt
ACG
Metals Limited is pleased to announce that it is rapidly
deleveraging in order to support the Company's long-term strategic
objectives and enhance shareholder value.
As part
of the acquisition of the Gediktepe Mine in Turkey, ACG entered
into a $37.5 million acquisition debt agreement with Traxys Europe
S.A. and Argentum Creek Partners as of 31st August
2024.
Within
just two months, ACG has repaid $12.1 million of the principal
amount of this gold prepay debt facility (-32%), bringing the
outstanding principal amount down to $25.4 million as at
31st October 2024.
The
other acquisition debt outstanding has decreased from $18.6 million
to $13.5 million (-27%) following the conversion of
$4,549,260 million into
equity via Sponsor Loan Conversions and the repayment of $3.25
million in cash.
- ENDS -
The person responsible for the
release of this information on behalf of the Company is Artem
Volynets, Chief Executive Officer.
For further information
please contact:
Palatine
Communications Advisor
Conal Walsh / James Gilheany/ Kelsey
Traynor/ Richard Seed
acg@palatine-media.com
About the Company
ACG is a company with a vision to
consolidate the critical metals industry, starting with the copper
sector. Through a series of roll-up acquisitions, ACG intends to
become a premier supplier of copper and other critical metals to
the western OEM supply chain, with best-in-class ESG and carbon
footprint characteristics.
In September 2024, ACG successfully
completed the acquisition of the Gediktepe Mine, an operating open
pit mine in Türkiye currently producing 34 koz of gold and 361 koz
of silver. Gediktepe is expected to transition to primary copper
and zinc production from 2026 and will target annual steady-state
copper equivalent production of 20-25 kt.
ACG's team has extensive M&A
experience built through decades spent at blue-chip multinationals
in the sector. The team brings a significant network as well as a
commitment to ESG principles and strong corporate
governance.
For more information about ACG,
please visit: www.acgcorp.co