Marathon Gold Provides Update on Project Financing Arrangements
TORONTO, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to provide an update on certain project financing arrangements for the Valentine Gold Project located in the central region of Newfoundland and Labrador (“Valentine” or the “Project”).
- TORONTO, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to provide an update on certain project financing arrangements for the Valentine Gold Project located in the central region of Newfoundland and Labrador (“Valentine” or the “Project”).
- On March 31, 2022, Marathon announced the completion of a US$185 million term loan facility (the “Facility”) with a fund managed by Sprott Resource Corporation (“Sprott”).
- The proceeds of the Facility are to be used for the construction, development and working capital requirements of the Project.
- Marathon expects to provide a further update when these discussions have been concluded.