Summit Royalties Secures Up to $50 Million Revolving Credit Facility

Summit Royalties Ltd. (TSXV: SUM, OTCQX: SUMMF) has secured up to US$50 million in a revolving credit facility with National Bank of Canada.

The initial commitment is US$25 million, but the agreement includes an accordion feature that allows for up to an additional US$25 million to be drawn upon certain conditions are met.

This new source of capital will provide Summit with significant financial flexibility to pursue larger accretive royalty and streaming acquisitions, according to President and CEO Drew Clark.

The credit facility has a maturity date of three years, but Summit has the option to request an extension subject to certain conditions.