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Wesdome Gold Mines closes upsized C$45M credit facility

Wesdome Gold Mines Ltd. closed the refinancing of its senior secured revolving credit facility, which was upsized to C$45.0 million from C$40.0 million initially planned.

The three-year facility, which is secured by the company's properties, replaced the company's previous C$36.0 million credit facility, according to a Sept. 30 release. National Bank Financial Inc. is the sole arranger.

The facility will be used for general corporate and working capital purposes. Wesdome Gold said it already drew down C$5.0 million, of which C$4.5 million was used to repay amounts owed under the old facility.