Latest news with #Troilus
Yahoo
15-05-2025
- Business
- Yahoo
Troilus Secures US$35 Million Loan Facility to Advance Pre-Development Activities
MONTREAL, May 15, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FSE: CM5R) ('Troilus' or the 'Company') announces that it has secured a loan agreement (the 'Loan Agreement') with Auramet International, Inc. (the 'Lender') for a principal amount of up to US$35 million (~CDN$49 million) (the 'Loan'). This non-dilutive facility will support Troilus' near-term development activities, including final permitting, early works preparation, and advancement toward full project financing. Justin Reid, CEO of Troilus, commented 'In addition to Troilus's already strong balance sheet and the anticipated inflow from more than $16 million of in-the-money warrants, this Loan provides Troilus with enhanced financial flexibility at a lower cost of capital than other available alternatives, including equity. It positions us to aggressively advance early pre-development initiatives, complete permitting, and finalize our overall project financing. Auramet has been an invaluable partner throughout this process and continues to play a key role as our primary project financing advisor. Their involvement not only brings deep expertise but also aligns their interests directly with those of Troilus and our stakeholders as we work toward successful financial completion within our targeted timeline.' The Loan has an initial term of one year and is structured to be drawn down in tranches to support Troilus' working capital requirements pending the completion of project financing for the construction of its Troilus Project. An initial tranche of US$15 million was advanced to Troilus upon execution of the Loan Agreement. The remaining US$20 million will be available for drawdown by Troilus beginning 90 days from the date of the initial advance and subject to the satisfaction by Troilus of certain conditions precedent. The Loan bears 1.0% monthly interest on the outstanding balance, including principal and accrued interest, and is secured by a negative pledge on the Company's assets, a security interest and a hypothec charging personal property of the Company. The Loan repayment may be accelerated in certain specified circumstances and Troilus may also voluntarily prepay the Loan together with all accrued and unpaid interest at any time without penalty or bonus. Troilus may extend the maturity of the Loan for an additional six months upon satisfying certain conditions and the payment of certain fees, in which case the Loan will bear interest at a rate of 1.25% per month during such period. In consideration of the first tranche of the Loan, the Lender received 5,000,000 warrants of Troilus, each exercisable for one common share of Troilus at an exercise price of $0.60 per common share established at a 10% premium to the 5-day vwap at time of term sheet signing. On the date of the first drawdown of the second tranche of the Loan, the Lender will be entitled to receive an additional 5,000,000 common share purchase warrants of Troilus each exercisable at an exercise price representing a 10% premium to the 5-day VWAP (as calculated in accordance with the TSX Company Manual) of the Troilus common shares prior to the date of their issuance of such warrants. All such warrants will be for a term of 24 months. Subject to stock exchange approval, an additional 10,000,000 warrant may be issuable upon Troilus opting to extend the maturity of the Loan. Auramet is one of the largest physical precious metals merchants in the world with over US$25 billion in annual revenues and provides a full range of services to all participants in the precious metals industry. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Auramet acts as Troilus's senior advisor on its project financing initiatives. 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) 276-0050 info@ 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 intended use of advances from the Loan, the expected benefits to Troilus from the Loan, the availability of additional draw downs under the Loan, the expected proceeds from the exercise of existing warrants of the Company, and the plans of Troilus. 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 economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance Troilus will meet all conditions for further draw downs under the Loan; uncertainties with respect to additional warrants being exercised; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company's latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company's profile at Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Yahoo
06-02-2025
- Business
- Yahoo
Troilus Announces $5.8 Million Strategic Investment by Vaneck via a Non-Brokered Private Placement
Not for distribution to United States newswire services or for dissemination in the United States MONTREAL, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FSE: CM5R) ('Troilus' or the 'Company') announces that it has completed a non-brokered private placement of approximately CAD$5.8 million (the 'Offering') to funds managed by VanEck Associates Corporation ('VanEck'), a globally recognized investment management firm known for its forward-looking approach to identifying investment trends and one of the most influential institutional investors in the precious metals and junior mining sectors. The Offering consisted of 16,478,900 common shares of the Company (the 'Shares') at a price of C$0.35 per share, representing a 1.45% premium to the five-day volume-weighted average price ('VWAP') of C$0.345 as of January 29, 2025. Following the closing of the Offering, the accounts managed by VanEck now hold approximately 4.3% of Troilus's total issued and outstanding shares, further aligning itself with the Company's long-term growth and development. The net proceeds of the Offering shall be used for general corporate and working capital purposes. The securities issued are subject to a regulatory hold period that expires on June 7, 2025. VanEck's participation in this Offering is a powerful endorsement of the Troilus Project's quality, value potential, and long-term scalability, further strengthening the Company's position as it advances toward construction and future production. Justin Reid, CEO of Troilus, commented 'We are pleased to welcome VanEck as a strategic investor in Troilus. Their investment is a strong endorsement of the Troilus Project's quality and its potential to become a cornerstone Canadian mining operation. As one of the most respected institutional investors in the gold sector, VanEck's support further strengthens our position as we advance toward construction.' VanEck is a leading global investment manager, offering both active and passive strategies across various structures, including ETFs, mutual funds, and institutional portfolios. The firm is known for identifying long-term investment trends, including its early recognition of gold's transformative potential as an asset class. The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 ArsenaultVP Corporate Communications+1 (647) 407-7123info@ 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 use of proceeds and the receipt of regulatory approvals, positioning of the Company as it advances toward construction and future production, statements regarding financing plans, development plans, opportunity to expand the scale of the project, and 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 economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company's latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company's profile at Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Associated Press
29-01-2025
- Business
- Associated Press
Troilus Initiates ESIA Submission, Marking Significant Progress Toward Final Permitting
MONTREAL, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF; FRA: CM5R) ('Troilus' or the 'Company'), is pleased to announce that it has begun the submission process for its Environmental and Social Impact Assessment ('ESIA') for the copper-gold Troilus Project, located in north-central Quebec, Canada. This marks a critical milestone in the Company's permitting process as it progresses one of Canada's largest undeveloped gold-copper deposits toward construction. Under an updated, more collaborative approach outlined by the Impact Assessment Agency of Canada and the Cree Nation Government, Troilus has been able to submit sections of its ESIA for review as they are completed, rather than waiting for the entire report to be finalized. This iterative process has already facilitated constructive engagement, with initial feedback and comments from the Agency being incorporated into the Company's final submission. By addressing questions and resolving issues early in the process, this approach is expected to streamline the final permitting process and reduce back-and-forth once the complete ESIA is formally submitted. A Multi-Year Commitment to Stakeholder Engagement and Environmental Responsibility The ESIA represents the culmination of more than five years of work by Troilus, including extensive field studies and collaboration with stakeholders and local Indigenous communities. Highlights of these efforts include: Public and private consultations with local communities, including the Cree Nation, to ensure alignment with regional priorities and cultural values. Environmental baseline studies conducted to evaluate and mitigate potential impacts on local ecosystems. Comprehensive social and economic studies to address the long-term benefits of the project for the region. The preparation of the ESIA has been conducted in partnership with leading environmental and engineering firms, BluMetric and Stantec, ensuring the report adheres to the highest environmental, social, and technical standards. Justin Reid, CEO of Troilus, commented, 'The initiation of the ESIA submission process is a significant step forward for Troilus as we advance our project toward final permitting and development. The new iterative framework has allowed us to engage directly with regulators and stakeholders, resolving issues early and incorporating their feedback into the final report. This approach not only demonstrates our commitment to transparency and collaboration but also ensures that the final document is as robust and comprehensive as possible. We believe this collaborative approach will help streamline the permitting process and position Troilus for the successful and sustainable advancement of the Project.' As part of its continued commitment to responsible resource development, Troilus will maintain open communication with local communities and regulatory authorities throughout the ESIA process. The final ESIA submission is expected to be completed in Q2 2025. 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 [email protected] 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 timing and impact of the dewatering and ESIA, the likelihood that the outlined submission process will result in the company obtaining the requisite permitting on an expedited timeline or at all, statements financing plans, 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; the estimation of mineral resources and reserves; realization of mineral resource and reserve estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company's low discovery costs, technical expertise and support from local communities, the timing and amount of estimated future exploration; and the anticipated results of the Company's 2024 drill program and their possible impact on the potential size of the mineral resource estimate. 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 economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource and reserve estimates; the high degree of uncertainties inherent to feasibility studies and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; availability of financing for project development; uncertainties and risks with respect to developing mining projects; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Company's latest Annual Information Form, its technical reports and other continuous disclosure documents of the Company available under the Company's profile at Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
