Summit Royalties Secures Up to US$50 Million Credit Facility

Summit Royalties Ltd., a precious metals royalty and streaming company, has secured a revolving credit facility worth up to US$50 million. The facility is with National Bank of Canada and includes an initial commitment of US$25 million, which can be increased by another US$25 million if certain conditions are met.

The Facility will have an initial tenor of three years, but Summit has the option to extend it further subject to certain conditions and lender consent. The interest rate for advances under the Facility will range from 2.50% to 4.00% per annum based on the Corporation's net leverage ratio.

Drew Clark, President and CEO of Summit, stated that securing this credit facility marks an important milestone in their growth strategy. He expressed confidence in partnering with National Bank of Canada and said they look forward to leveraging this new source of capital to accelerate their growth and create long-term value for shareholders.