Troilus Mandates Syndicate of Global Lenders for up to US$700M Project Financing
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF) has secured a mandate letter for a potential US$700 million project financing package with a syndicate of global financial institutions including Societe Generale, KfW IPEX-Bank, and Export Development Canada. This development follows four previously announced Letters of Intent from export credit agencies totaling up to US$1.3 billion.
The financing package aims to fund the development and construction of the Troilus Gold-Copper Project in north-central Quebec, Canada. The company is currently undergoing detailed technical, financial, and environmental & social due diligence with the mandated lead arrangers, targeting financial close before the end of 2025.
The project is advancing with key development milestones, including the final submission of its Environmental and Social Impact Assessment and the progression of engineering work by BBA Inc. The completion of the financing package remains subject to final due diligence, credit approvals, and execution of definitive agreements.
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF) ha ottenuto una lettera di mandato per un potenziale pacchetto di finanziamento di progetto da 700 milioni di dollari USA con un sindacato di istituzioni finanziarie globali tra cui Société Générale, KfW IPEX-Bank e Export Development Canada. Questo sviluppo segue quattro Lettere di Intento precedentemente annunciate da agenzie di credito all'esportazione per un totale di 1,3 miliardi di dollari USA.
Il pacchetto di finanziamento mira a finanziare lo sviluppo e la costruzione del Progetto Oro-Rame Troilus nel Quebec centrale-nord, Canada. L'azienda sta attualmente effettuando una due diligence tecnica, finanziaria, ambientale e sociale dettagliata con i principali organizzatori incaricati, puntando a chiudere finanziariamente entro la fine del 2025.
Il progetto sta avanzando con tappe chiave nello sviluppo, inclusa la presentazione finale della sua Valutazione di Impatto Ambientale e Sociale e il progresso dei lavori di ingegneria da parte di BBA Inc. Il completamento del pacchetto di finanziamento rimane soggetto a una due diligence finale, approvazioni di credito e alla conclusione di accordi definitivi.
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF) ha conseguido una carta de mandato para un potencial paquete de financiamiento de proyecto de 700 millones de dólares estadounidenses con un sindicato de instituciones financieras globales, incluyendo Société Générale, KfW IPEX-Bank y Export Development Canada. Este desarrollo sigue a cuatro Cartas de Intención previamente anunciadas por agencias de crédito a la exportación, sumando un total de 1.3 mil millones de dólares estadounidenses.
El paquete de financiamiento tiene como objetivo financiar el desarrollo y la construcción del Proyecto de Oro-Cobre Troilus en el centro-norte de Quebec, Canadá. La empresa está actualmente llevando a cabo una debida diligencia técnica, financiera, ambiental y social detallada con los organizadores principales mandatados, con el objetivo de cerrar financieramente antes de finales de 2025.
El proyecto avanza con hitos clave en el desarrollo, incluida la presentación final de su Evaluación de Impacto Ambiental y Social y el progreso del trabajo de ingeniería por parte de BBA Inc. La finalización del paquete de financiamiento sigue sujeta a la debida diligencia final, aprobaciones de crédito y la ejecución de acuerdos definitivos.
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF)는 Société Générale, KfW IPEX-Bank 및 Export Development Canada를 포함한 글로벌 금융 기관의 신디케이트와 함께 7억 달러 규모의 프로젝트 자금 조달 패키지에 대한 위임장(letter of mandate)을 확보했습니다. 이 개발은 총 13억 달러에 달하는 수출 신용 기관으로부터의 네 개의 의향서(Letters of Intent)에 이어 이루어졌습니다.
이 자금 조달 패키지는 캐나다 퀘벡 북중부에 위치한 Troilus 금-구리 프로젝트의 개발 및 건설을 지원하는 것을 목표로 하고 있습니다. 이 회사는 현재 위임된 주관사와 함께 기술, 재무, 환경 및 사회적 실사가 진행 중이며, 2025년 말 이전에 재정적 마감을 목표로 하고 있습니다.
이 프로젝트는 환경 및 사회적 영향 평가의 최종 제출과 BBA Inc.의 엔지니어링 작업 진행을 포함한 주요 개발 이정표를 가지고 진행되고 있습니다. 자금 조달 패키지의 완료는 최종 실사, 신용 승인 및 최종 계약의 체결에 따라 달라집니다.
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF) a obtenu une lettre de mandat pour un potentiel package de financement de projet de 700 millions de dollars américains avec un syndicat d'institutions financières mondiales, y compris Société Générale, KfW IPEX-Bank et Export Development Canada. Ce développement fait suite à quatre lettres d'intention précédemment annoncées par des agences de crédit à l'exportation, totalisant jusqu'à 1,3 milliard de dollars américains.
Le package de financement vise à financer le développement et la construction du Projet Or-Cuivre Troilus dans le centre-nord du Québec, Canada. L'entreprise est actuellement en train de réaliser une due diligence technique, financière, environnementale et sociale détaillée avec les arrangeurs principaux mandatés, visant à finaliser le financement avant la fin de 2025.
Le projet progresse avec des jalons clés de développement, y compris la soumission finale de son Évaluation d'Impact Environnemental et Social et l'avancement des travaux d'ingénierie par BBA Inc. L'achèvement du package de financement reste soumis à la due diligence finale, aux approbations de crédit et à l'exécution des accords définitifs.
Troilus Gold Corp (TSX: TLG; OTCQX: CHXMF) hat ein Mandatsschreiben für ein potenzielles Finanzierungspaket für Projekte in Höhe von 700 Millionen US-Dollar von einem Syndikat globaler Finanzinstitute, darunter Société Générale, KfW IPEX-Bank und Export Development Canada, erhalten. Diese Entwicklung folgt auf vier zuvor angekündigte Absichtserklärungen von Exportkreditagenturen mit einem Gesamtvolumen von bis zu 1,3 Milliarden US-Dollar.
Das Finanzierungspaket zielt darauf ab, die Entwicklung und den Bau des Troilus Gold-Kupferprojekts im nordzentralen Quebec, Kanada, zu finanzieren. Das Unternehmen führt derzeit eine detaillierte technische, finanzielle sowie umwelt- und sozialverträgliche Due Diligence mit den beauftragten Hauptarrangeuren durch, mit dem Ziel, bis Ende 2025 einen finanziellen Abschluss zu erzielen.
Das Projekt schreitet mit wichtigen Entwicklungsmeilensteinen voran, einschließlich der endgültigen Einreichung seiner Umwelt- und Sozialverträglichkeitsprüfung sowie dem Fortschritt der Ingenieurarbeiten durch BBA Inc. Der Abschluss des Finanzierungspakets bleibt vorbehaltlich der endgültigen Due Diligence, Kreditgenehmigungen und der Ausführung endgültiger Vereinbarungen.
- Secured mandate letter for US$700M project financing package from major global financial institutions
- Additional US$1.3B in Letters of Intent from export credit agencies
- Project advancing on schedule with key development milestones
- Financing package still subject to due diligence and final approvals
- No guaranteed completion of financing arrangements
MONTREAL, Quebec, March 13, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) (“Troilus” or the “Company”) is pleased to announce that it has executed a mandate letter with respect to a non-binding term sheet with a syndicate of leading global financial institutions, including Societe Generale, KfW IPEX-Bank, and Export Development Canada (“EDC”), (together the mandated lead arrangers or “MLAs”) to arrange a structured project debt financing package of up to US
This syndicate of lenders brings deep expertise in structuring project financing for large-scale mining developments, reinforcing Troilus as a globally recognized, financeable asset. The execution of this mandate letter represents a major milestone in advancing towards a fully funded construction package and follows four previously announced Letters of Intent (“LOIs”) from global export credit agencies (“ECAs”) totaling up to US
Justin Reid, CEO of Troilus, commented, “Securing this mandate with three globally recognized financial institutions that have expertise in structuring financing solutions for large-scale mining development is a pivotal step in delivering a fully funded construction package for the Troilus project. These institutions bring world-class mining finance expertise, and their participation further validates the project’s strong fundamentals and strategic importance. Project due diligence is underway in parallel with continued permitting and detailed engineering; our development schedule is on track as we advance Troilus towards construction.”
As part of the next phase in this financing process, detailed technical, financial, and environmental & social due diligence is underway with the MLAs. This due diligence will be instrumental in structuring the definitive project debt package, with financial close targeted for before the end of 2025. Troilus and its advisors continue to advance sizeable other non-dilutive components of the project financing as well as negotiating off-take agreements with domestic and foreign smelters and look forward to updating the market in due course.
The Company continues to advance key development catalysts, including the final submission of its Environmental and Social Impact Assessment (“ESIA”) and the advancement of basic and detailed engineering by BBA Inc. (see January 28 and 29, 2025, press releases).
The completion of the financing package, including the debt facility, remains subject to final due diligence, credit approvals, and negotiation and execution of definitive financing agreements and satisfaction of the conditions precedent thereunder. Auramet International Inc. continues to act as project finance advisor and assist with structuring, identifying, and engaging potential financing participants. Troilus will provide further updates as the process advances.
Qualified Person
The technical information in this press release has been reviewed and approved by Kyle Frank, P.Geo., Vice President Exploration, Corporate Development, who is Qualified Person as defined by NI 43-101. Mr. Frank is an employee of Troilus and is not independent of the Company under NI 43-101.
About Troilus Gold Corp.
Troilus Gold Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 km² in the Frôtet-Evans Greenstone Belt. A Feasibility Study completed in May 2024 supports a large-scale 22-year, 50ktpd open-pit mining operation, positioning it as a cornerstone project in North America.
For more information:
Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com
Cautionary Note Regarding Forward-Looking Statements and Information
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the mandate on the Company, the likelihood that binding funding commitments will follow on the timeline projected or at all, the likelihood that ECAs will provide financing and guarantees, advancing towards a fully funded construction package, development plans to advance the Troilus project towards construction, the impact of due diligence on structuring a definitive project debt package, the likelihood of structuring a definitive project debt package with financial close on stated timeline or at all, structuring, identifying, and engaging potential financing participants, development plans, opportunity to expand the scale of the project, the project becoming a cornerstone mining project in North America; the development potential and timetable of the project; Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global
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