Discovery Silver announces agreement for $250M revolving credit facility

Discovery Silver (DSVSF) has entered into an agreement with a syndicate of financial institutions for a revolving credit facility that allows the Company to borrow up to $250M, with an accordion feature for an additional $100M subject to receipt of additional lender commitments and satisfaction of certain other conditions. The Syndicate includes Bank of Montreal, acting as administrative agent and lender, BMO Capital Markets, acting as sole bookrunner and co-lead arranger, and Canadian Imperial Bank of Commerce and National Bank of Canada acting as co-lead arrangers, co-syndication agents and lenders. The Facility will mature on September 15, 2028, and is available for general corporate and working capital purposes, including financing future investments as the Company advances its growth strategy. The Facility includes terms and conditions customary for a transaction of this nature, and is secured by all assets of the Company and its material subsidiaries. Advances under the Facility are subject to the satisfaction of certain customary conditions precedent.