Summit Royalties Secures Up to $50 Million Revolving Credit

Summit Royalties Ltd., a precious metals royalty and streaming company, has secured up to US$50 million in revolving credit from National Bank of Canada. The Facility includes an initial commitment of US$25 million, with the option for up to an additional US$25 million through an accordion feature.

The Facility's maturity date is three years, but Summit Royalties can request a five-year extension, subject to certain conditions and lender consent. The interest rate on advances will be based on the Secured Overnight Financing Rate or the Canadian Overnight Repo Rate Average, plus a credit spread adjustment of 2.50% to 4.00% per annum.

Summit Royalties plans to use the Facility for working capital and other general corporate purposes, including acquisitions permitted under the agreement. The Company's President and CEO, Drew Clark, stated that securing this credit facility is an 'important milestone' for Summit as it continues to execute its growth strategy.