Sabina Gold & Silver gets $20 million 5.25% credit facility due 2022

By Devika Patel

Knoxville, Tenn., Aug. 30 – Sabina Gold & Silver Corp. has secured a $20 million 5.25% senior secured credit facility maturing on Sept. 27, 2022, according to a press release.

Proceeds will be used as project financing for the Goose Mine on the company’s Back River Gold Project in Nunavut, Canada.

The company is pursuing a significant project debt facility on reasonable terms to fund the Back River project. It has engaged in discussions with several streaming companies, which have submitted stream proposals. Sabina Gold & Silver is considering a proposal which, if completed, would reduce the equity requirements of project financing.

The precious metals exploration company is based in Vancouver, B.C.

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