Latest news with #BridgeLoan
Business Wire
3 days ago
- Business
- Business Wire
VIQ Solutions Announces Amendments to Credit Agreement
MISSISSAUGA, Ontario--(BUSINESS WIRE)--VIQ Solutions Inc. (' VIQ ', ' VIQ Solutions ' or the ' Company ') (TSX: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announces that it has entered into an eighth amendment agreement (the ' Eighth Amendment Agreement ') with Beedie Investments Ltd. (the ' Lender ') in order to amend certain terms of the credit agreement dated January 13, 2023 between the Company and the Lender, as amended, (the ' Credit Agreement ') governing the Company's US$15,000,000 senior secured loan with the Lender (the ' Original Loan ') as well as a US$1,500,000 term loan with the Lender, of which US$1,250,000 has been drawn (the ' Bridge Loan '). The Eighth Amendment Agreement is designed to support the Company's recapitalization and long-term business objectives. Pursuant to the Eighth Amendment Agreement, the Company has established a Finance Committee to lead a targeted refinancing of its obligations under the Original Loan and Bridge Loan by April 30, 2026 (the ' Refinancing Period '). Building on sustained positive adjusted EBITDA momentum, this initiative reflects the Company's commitment to strengthening the balance sheet, reducing leverage, and enhancing long-term financial flexibility as it advances toward its next phase of growth. Subject to the continued satisfaction of certain revised financial covenants, the Eighth Amendment Agreement provides that the Lender will not demand or accelerate the repayment of indebtedness outstanding under the Original Loan and the Bridge Loan during the Refinancing Period. The Lender is a 'related party' of the Company as such term is defined under applicable securities laws and, as a result, the entering into the Eighth Amendment Agreement is considered a related party transaction (as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61-101 ')). The Company has relied on certain exemptions from the requirement to obtain a formal valuation and minority shareholder approval, namely sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for the Eighth Amendment Agreement exceeds 25% of the Company's market capitalization. A copy of the Credit Agreement is available, and a copy of the Eighth Amendment Agreement will be available, under the Company's profile on SEDAR+ at For more information about VIQ, please visit About VIQ Solutions VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost. Forward-looking Statements Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, 'forward-looking statements') under applicable securities legislation. Such forward- looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements (typically contain statements with words such as 'anticipate', 'believe', 'expect', 'plan', 'intend', 'estimate', 'propose', 'project' or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions 'may' or 'will' occur). These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to the Company's ability to observe the revised financial covenants during the Refinancing Period, any potential outcome of the Company's refinancing efforts; and the Company's current and future growth prospects. Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the 'Risk Factors' section of the Company's annual information form and in the Company's other materials filed on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
Yahoo
23-06-2025
- Business
- Yahoo
Tier One Silver Updates LIFE Financing and Receives Bridge Loan
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Tier One Silver Inc. (TSXV: TSLV) (OTCQB: TSLVF) ("Tier One" or the "Company") announces that the targeted closing date for its listed issuer financing exemption ("LIFE") offering (the "Offering") has been extended to July 15, 2025. In order to pay Peruvian governmental mineral project concession fees due June 30, 2025, the Company has received a C$175,000 bridge loan (the "Bridge Loan") from a director. The Bridge Loan is unsecured, accrues simple interest of 12% per annum and is due for repayment on the earlier of September 30, 2025, and the completion of the LIFE Offering or other debt or equity financing totaling at least C$1 million. The Company is not obligated to pay any other fees or issue any securities in connection with the Bridge Loan. The Company is seeking to raise at least C$4.1 million through the issuance of $0.09 units (the "Units") under the Offering. Each Unit consists of one common share (a "Share") and one Share purchase warrant exercisable from the date that is 61 days after the closing of the Offering (the "Closing Date") until the date that is 36 months after the Closing Date, at an exercise price of C$0.11 per Share. The net proceeds from the Offering will be used for exploration of the Company's Curibaya project, to include drilling of the Cambaya target area, and for general corporate and working capital purposes. An amended and restated LIFE offering document dated concurrently with this press release has been filed at and is available on the Company's website. The Offering and Bridge Loan are subject to TSX Venture Exchange approval and customary completion conditions. The Company may pay to certain eligible finders a cash fee of 6% of the gross proceeds of the Offering and issue finders warrants equal to 6% of the number of Units sold, with each finders warrant having the same terms as the unit warrants. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC. Peter DembickiPresident, CEO and Director For further information on Tier One Silver Inc., please contact Investor Communications, at (778) 729-0600 or info@ About Tier One Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. For more information, visit Forward-Looking Information and General Cautionary Language This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements in regard to the Company's exploration plans, repayment of the Bridge Loan and the closing of and use of proceeds of the Offering. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Asante Receives Second US$100 Million Advance From Fujairah, Provides Interim Financing Update
VANCOUVER, British Columbia, June 02, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE: ASE | GSE: ASG | FRANKFURT:1A9 | ASGOF) ('Asante' or the 'Company') is pleased to announce that it has received the second US$100 million advance from Fujairah Holdings LLC (the 'Second Advance'), as scheduled under the Gold Forward Agreement (the 'Gold Forward Agreement') described in the Company's news release of December 19, 2024. Asante has also secured a US$10 million bridge loan facility (the 'Bridge Loan') from a leading financial institution in Ghana, which is expected to make a substantially larger credit commitment as part of the Company's final capital structure. The US$110 million proceeds of the Second Advance and the Bridge Loan will be used to advance the ongoing pit expansion at the Bibiani Mine, as well as the completion of the sulphide treatment plant, with commissioning to commence in July 2025. The funds will also provide working capital support pending the completion of the Company's financing process. The Company is also pleased to provide an interim update on its previously announced financing process. To date, conditional credit commitments in an aggregate amount of more than US$250 million have been received. The Company will provide a further announcement in due course upon the finalization of key commercial terms and conditions, and the selection of financing partners following final credit approvals. Although there is no certainty that such financing initiatives will be completed, the Company is confident that it will be able to do so by the end of July 2025, as noted in its news release of May 5, 2025. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle. Additional information is available on the Company's website at For further information please contact:Dave Anthony, President & CEOFrederick Attakumah, Executive Vice President and Country Directorinfo@ 604 661 9400 or +233 303 972 147 Cautionary Statement on Forward-Looking StatementsCertain statements in this news release constitute forward-looking statements or forward-looking information. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: timing of the completion of the balance of the Gold Forward Agreement, statements relating to funding initiatives and the Company's proposed financing package disclosed on May 5, 2025, projections of gold production, progression of the sulphide treatment plant at the Company's Bibiani mine, and the intended use of proceeds of the Second Advance. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of mineralized material to be mined and processed; future anticipated prices for gold and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; risks related to increased barriers to trade, including tariffs and duties; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations, including contractual rights from third parties and adjacent property owners; whether the Company is able to maintain a strong financial condition and have sufficient capital, or have access to capital, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in the price of gold; fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships and claims by local communities; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in countries where the Company may carry on business, including legal restrictions relating to mining, risks relating to expropriation; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company's inability to raise the necessary capital or to be fully able to implement its business strategies, and those risk factors identified in the Company's management's discussions and analysis and the most recent annual information form. The reader is referred to the Company's public disclosure record which is available on SEDAR+ ( Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
