Victoria Gold extends maturity date on secured revolving facility

Chicago, Oct. 11 – Victoria Gold Corp. extended the revolver under its secured debt facility for an additional year to Dec. 31, 2025, according to a press release.

The credit facility consists of a term loan and a revolver, but only the revolving component was extended.

The term loan still matures on Sept. 30, 2024. The company noted that there are only four equal amortization payments left on the term loan.

The facility dates back to Dec. 18, 2020 with amendments on Dec. 20, 2021, June 16, 2022 and Feb. 17, 2023.

Bank of Montreal, CIBC, Desjardins and National Bank comprise the syndicate of lenders.

The company said that it expects to generate significant free cash flow over the coming quarters and will be focusing on debt repayment.

The extension on the revolver will add flexibility to the company’s balance sheet.

Victoria Gold is a gold exploration company based in Toronto.

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