Elemental Altus Royalties Announces Expanded Revolving Credit Facilty
Elemental Altus Royalties has expanded its Credit Facility by exercising a US$10 million accordion feature, increasing the total borrowing limit to US$50 million. Royal Bank of Canada (RBC) joins as a new lender alongside National Bank of Canada (NBC) and Canadian Imperial Bank of Commerce (CIBC). The company has already repaid US$10 million in 2024 and currently has US$20 million drawn. The Facility's maturity date was extended from December 2025 to June 2027, with interest rates at SOFR plus 2.50% - 3.75% based on leverage ratio.
Elemental Altus Royalties ha ampliato la sua linea di credito esercitando una funzione di accordo da 10 milioni di dollari, aumentando il limite totale di prestito a 50 milioni di dollari. Royal Bank of Canada (RBC) si unisce come nuovo prestatore insieme a National Bank of Canada (NBC) e Canadian Imperial Bank of Commerce (CIBC). L'azienda ha già restituito 10 milioni di dollari nel 2024 e attualmente ha prelevato 20 milioni di dollari. La data di scadenza della linea è stata estesa da dicembre 2025 a giugno 2027, con tassi di interesse pari a SOFR più il 2,50% - 3,75% in base al rapporto di leva.
Elemental Altus Royalties ha ampliado su línea de crédito al ejercer una función de acuerdo de 10 millones de dólares, aumentando el límite total de préstamo a 50 millones de dólares. Royal Bank of Canada (RBC) se une como nuevo prestamista junto a National Bank of Canada (NBC) y Canadian Imperial Bank of Commerce (CIBC). La compañía ya ha reembolsado 10 millones de dólares en 2024 y actualmente tiene 20 millones de dólares disponibles. La fecha de vencimiento de la línea se ha extendido de diciembre de 2025 a junio de 2027, con tasas de interés de SOFR más el 2,50% - 3,75% según la relación de apalancamiento.
Elemental Altus Royalties는 1천만 달러 규모의 추가 보증 기능을 행사하여 신용 한도를 5천만 달러로 확대했습니다. Royal Bank of Canada (RBC)가 National Bank of Canada (NBC) 및 Canadian Imperial Bank of Commerce (CIBC)와 함께 새로운 대출 기관으로 합류하였습니다. 이 회사는 2024년에 이미 1천만 달러를 상환하였으며 현재 2천만 달러를 인출한 상태입니다. 이 시설의 만기일은 2025년 12월에서 2027년 6월로 연장되었으며, 이자율은 SOFR에 2.50% - 3.75%를 추가한 것입니다.
Elemental Altus Royalties a élargi sa ligne de crédit en exerçant une fonctionnalité d'accord de 10 millions de dollars, augmentant le plafond total d'emprunt à 50 millions de dollars. La Royal Bank of Canada (RBC) rejoint en tant que nouveau prêteur aux côtés de la National Bank of Canada (NBC) et de la Canadian Imperial Bank of Commerce (CIBC). L'entreprise a déjà remboursé 10 millions de dollars en 2024 et a actuellement 20 millions de dollars tirés. La date d'échéance de la ligne de crédit a été prolongée de décembre 2025 à juin 2027, avec des taux d'intérêt de SOFR plus 2,50% - 3,75% en fonction du rapport d'endettement.
Elemental Altus Royalties hat seine Kreditlinie erweitert, indem es eine 10 Millionen US-Dollar große Accordion-Funktion ausgeübt hat, wodurch die Gesamtkreditgrenze auf 50 Millionen US-Dollar erhöht wurde. Die Royal Bank of Canada (RBC) tritt als neuer Kreditgeber neben der National Bank of Canada (NBC) und der Canadian Imperial Bank of Commerce (CIBC) hinzu. Das Unternehmen hat bereits 10 Millionen US-Dollar im Jahr 2024 zurückgezahlt und hat derzeit 20 Millionen US-Dollar in Anspruch genommen. Das Fälligkeitsdatum der Kreditlinie wurde von Dezember 2025 auf Juni 2027 verlängert, mit Zinssätzen von SOFR plus 2,50% - 3,75% basierend auf dem Verschuldungsverhältnis.
- Credit facility expanded by US$10M to US$50M total borrowing limit
- Addition of RBC as new lender strengthens banking relationships
- US$10M debt repayment completed in 2024
- Maturity date extended by 18 months to June 2027
- US$20M currently drawn on credit facility
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces the signing of an amendment (the "Amendment") to its Credit Facility (the "Facility") exercising the US
Frederick Bell, CEO of Elemental Altus, commented:
"We are grateful for the support of RBC, whom we are delighted to be joining our existing lenders NBC and CIBC. Throughout 2024, Elemental Altus has made significant progress in deleveraging, thanks to strong cash generation and the ongoing support of our shareholders, increasing our capacity to pursue accretive growth opportunities."
Credit Facility
The Company has a US
Amounts drawn on the Facility are subject to interest at SOFR plus
Frederick Bell
CEO and Director
Corporate & Media Inquiries:
Tel: +1 604 646 4527
info@elementalaltus.com
www.elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca or contact +1 604 646 4527.
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 11 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties. The vision of Elemental Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to the date that the name change is expected to become effective, whether shareholders will be required by their broker to exchange their issued certificate for a new certificate or take any other action in connection to the name change, the Company's ability to deliver a materially increased revenue profile with a lower cost of capital, the future growth, development and focus of the Company, and the acquisition of new royalties and streams. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental Altus to control or predict, that may cause Elemental Altus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental Altus will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Elemental Altus' expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental Altus for the year ended December 31, 2023. Elemental Altus undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229935
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