Nomad Royalty Company secures up to US$75 Million revolving Credit Facility
Montreal, Québec – July 15, 2020
Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce that it has entered into an agreement with The Bank of Nova Scotia (“Scotia”), Canadian Imperial Bank of Commerce (“CIBC”) and The Royal Bank of Canada (“RBC”) for a $US50 million revolving credit facility (“Facility”) with the option to increase to US$75 million, subject to satisfaction of certain conditions.
Elif Lévesque, Chief Financial Officer of Nomad, commented, “In these unprecedented times, we are excited to be able to count on Scotia, CIBC and RBC as strong financial partners to Nomad. The completion of the Facility will provide us with additional financial flexibility as we pursue the growth of our business and represents another important milestone in the evolution of our company. ”
The Facility will be secured by all of the Company’s assets and will have an 18-month term, extendable through mutual agreement between Nomad, Scotia, CIBC, and RBC. Closing of the Facility is expected in the third quarter of 2020 and is subject to completion of definitive documentation and satisfaction of conditions precedent customary for a financing of this nature. Nomad intends to use the Facility for future royalty and stream acquisitions.
Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 10 royalty, stream, and gold loan assets, of which 5 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.
Nomad Royalty Company Ltd.
500-1275 ave. des Canadiens-de-Montréal
Montréal (Québec) H3B 0G4
Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, the satisfaction of all conditions precedent for the execution and delivery of the final documentation relating to the revolving credit facility , the realization of the anticipated benefits of this revolving credit facility including the acquisition of royalties and funding precious metal streams. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the impossibility to satisfy the conditions precedent to the execution and delivery of the revolving credit facility, the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market or business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.