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Osisko Gold increases revolving credit facility to C$400M, extends term

Osisko Gold Royalties Ltd. said Sept. 19 that it increased its revolving credit facility to C$400 million with an additional uncommitted accordion of up to C$100 million, for a total availability of C$500 million, from the previous C$350 million in November 2017.

The facility term was also extended by one year to Nov. 14, 2023, according to a Sept. 19 release.

The company will use the facility for general corporate purposes and investments in the mineral industry, including the acquisition of royalties, streams and other interests.

On Sept. 12, Strongbow Exploration Inc. closed a loan settlement agreement with Osisko Gold Royalties Ltd. worth C$1.5 million in return for the transfer of a royalty on Westhaven Ventures Inc.'s Shovelnose gold project in British Columbia.