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Cobalt 27 Capital secures US$80M loan to fund investments

Cobalt 27 Capital Corp. said May 17 that it secured a US$80 million revolving term credit facility from several banks to fund its mineral investments and for general corporate purposes.

The facility, signed with National Bank of Canada along with Bank of Montreal and The Bank of Nova Scotia, is secured by the company's assets and has an initial two-year term, with the initial drawdown subject to certain conditions.

Cobalt 27 Chairman and CEO Anthony Milewski said the facility, combined with a recently completed C$200 million equity financing, strengthens the company's liquidity and allows it to accelerate its plans to close streaming deals.

The company plans to increase the size of the facility as it builds its cobalt-focused investment portfolio.