January 31The end of the month is coming. Curious to see what's announced.
Marathon and Sprott are currently engaged in constructive discussions regarding a potential increase in the Facility. To this end, the parties have concluded an amendment to the Credit Agreement (the “Amendment”) adjusting the effective date for certain terms and conditions of the Facility from December 31, 2022 to January 31, 2023. The Amendment adjusts the effective date for the Second Advance, the period under which the Initial Interest Amount will be calculated, the date upon which the Facility will bear interest, and the effective date of mutual termination rights. Marathon expects to provide a further update when these discussions have been concluded.
Concurrently, Marathon further announces that it has agreed with Franco Nevada Corporation (“FNV”) to extend a right in favour of the Company to repurchase 0.5% of a 2% net smelter returns royalty from FNV for US$7M from December 31, 2022 to January 31, 2023.