representative work

SilverCrest Metals Inc. Enters into US$120 Million Project Finance Facility and Completes Initial Drawdown of US$30 Million

12/31/2020

On December 31, 2020, NorCrest Metals Inc., a wholly owned subsidiary of SilverCrest Metals Inc., entered into a credit agreement with an affiliate of RK Mine Finance for a US$120 million secured project financing facility (the “Credit Facility”) for the construction of the Las Chispas Project located in Mexico and completed an initial drawdown of US$30 million. Subsequent drawdowns are available upon satisfaction of certain customary conditions precedent. The Credit Facility has a four year term and bears interest at 6.95% plus the greater of 3-month LIBOR or 1.5%.

Cassels is acting for SilverCrest with a deal team that includes David Budd, Carla Potter, Jenna Clark and Paras Patel (Banking & Specialty Finance) and Matthew Alter, Mark St. Cyr and Stephanie Garraway (Construction).