Aya Gold & Silver achieves financial completion with EBRD for Zgounder expansion

Aya Gold & Silver has achieved financial completion under its $100M project loan with the European Bank for Reconstruction and Development for the expansion of the Zgounder Silver Mine in the Kingdom of Morocco. Financial completion was achieved following a comprehensive technical and financial review conducted by the EBRD. This milestone demonstrates the mine’s successful transition to commercial production, as well as material compliance with financial covenants and the Environmental and Social Action Plan. This achievement results in a reduction of the Corporation’s security guarantees and a corresponding decrease in the debt service recovery account, which is recorded as restricted cash in the Corporation’s financial statements, under the financing agreement.