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Mag Silver Secures Us$40 Million Revolving Credit Facility

Nov 15, 2021•over 3 years ago

Amount Raised

$40 Million

Vancouver

Description

MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” “MAG Silver” or the “Company”) is pleased to report the signing of a binding commitment letter with the Bank of Montreal (“BMO”) for a fully underwritten US$40 million revolving credit facility (the “Facility”). Closing of the Facility is expected to occur by mid-December 2021 and is subject to the satisfaction of customary conditions, and completion of definitive documentation.

Company Information

Company

Mag

Location

Vancouver, Washington, United States

About

The Facility has a maturity date of December 31, 2024 and will be available for working capital and general corporate purposes, and provides MAG with additional liquidity and financial flexibility for its 44% share of the Juanicipio development and exploration costs should it be needed. “We are very pleased to enter into a credit relationship with BMO, a leading financial institution in Canada,” said Mr. George Paspalas, President and CEO of MAG.

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