NSRPF - Novo reports amendment of Sprott credit facility

Novo Resources (NSRPF) has entered into an agreement to amend certain terms of its outstanding $60M credit facility with Sprott Resource Lending and Sprott Private Resources Lending II and has drawn down an additional $5M. In order to retain financial flexibility as Novo advances its Beatons Creek conglomerate gold project to full-scale commercial production, Novo has renegotiated the 2nd tranche of the Facility to total $15M.In addition to the lender’s cash discount, the Co. is also required to pay to Clarus Securities and Stifel GMP a 4.5% cash fee on amounts drawn under the Facility.

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Novo reports amendment of Sprott credit facility