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Discovery Mining upsizes revolving credit facility to US$400 million

On July 31, 2026, Discovery Mining Ltd. (TSX: DSV, OTCQX: DSVSF) announced that it amended its senior secured revolving credit facility, increasing total commitments to US$400 million from US$250 million and extending the maturity date to July 30, 2030 from September 15, 2028. The US$100 million accordion feature remains unchanged. The amendment improves pricing, with interest set at term SOFR plus a credit spread adjustment of 0.10 percent per annum and an applicable margin ranging from 1.875 percent to 3.00 percent per annum, based on the company's total net leverage ratio. Standby fees on the undrawn portion were reduced to a range of 0.422 percent to 0.675 percent per annum from 0.563 percent to 0.788 percent. The amended facility also increases the maximum total net leverage ratio covenant and removes the minimum liquidity covenant, enhancing financial flexibility. The facility remains secured by certain company assets, supported by guarantees and a share pledge from material subsidiaries. The transaction was supported by a syndicate of lenders, with Bank of Montreal acting as administrative agent. Proceeds are available for general corporate and working capital purposes as the company advances growth at its Porcupine and recently acquired Kidd operations in Canada.

Company

Discovery Mining Ltd.

Bank

BMO Capital Markets

Law Firm / Organization
BMO Capital Markets
Lawyer(s)

Aimee Colyer

Financing/Investment
Mining
$ 551,902,000
Closed
31 July 2026