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Robex Resources closes US$130 million syndicated facility with Sprott to fund Kiniero Gold Project

On March 17, 2025, Robex Resources Inc. finalized a US$130 million (approximately CAD$176.3 million) senior secured syndicated facility agreement with Sprott Resource Lending (US Manager) Corp. to support the construction of the Kiniero Gold Project in Guinea. The facility, provided through Robex subsidiary Sycamore Mine Guinée-SAU as borrower, includes provisions such as 4,667 ounces of gold in additional interest per quarter for 15 quarters, and a US$1 million (CAD$1.36 million) original issue discount applied at initial draw. The first drawdown (Initial Utilization) of US$25 million (CAD$33.9 million) has been completed, with further utilizations contingent on meeting specific conditions.

As part of the agreement, Robex issued 773,811 common shares—valued at CAD$2.43 per share—as bonus shares to the lender, representing 1% of the facility value. These bonus shares were granted at a 10% discount to the volume-weighted average price prior to March 14, 2025, and are subject to a four-month hold ending July 15, 2025.

Advisers involved in the transaction include Terrafranca Capital Partners as debt adviser, Norton Rose Fulbright as legal counsel to the borrower, and DLA Piper as legal counsel to the lender. The TSX Venture Exchange has granted conditional acceptance of the bonus shares, pending standard closing documentation.

Company

Robex Resources Inc.

Law Firm / Organization
Norton Rose Fulbright LLP

Company

Sycamore Mine Guinée-SAU

Law Firm / Organization
Norton Rose Fulbright LLP

Company

Sprott Resource Lending (US Manager) Corp.

Law Firm / Organization
DLA Piper
Financing/Investment
Mining
$ 176,300,000
Closed
17 March 2025