Summit Royalties Secures Up to US$50 Million Revolving Credit Facility

Summit Royalties Ltd. (TSXV: SUM, OTC:SUMMF) has secured up to US$50 million in a revolving credit facility with National Bank of Canada. The initial commitment is for US$25 million, and the facility includes an accordion feature that allows Summit to access an additional US$25 million if certain conditions are met.

The Facility has an initial tenor of three years, with the option to extend the maturity date subject to satisfaction or waiver of 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 depending on the loan's tenor.

Summit plans to use the Facility for working capital and general corporate purposes, including potential acquisitions permitted under the agreement.