Osisko closes C$100m credit facility

28th November 2014 By: Leandi Kolver - Creamer Media Deputy Editor

JOHANNESBURG (miningweekly.com) – Gold-focused royalty and stream company Osisko Gold Royalties has closed its C$100-million revolving credit facility with the National Bank of Canada.

The credit facility, which could be increased by C$50-million at Osisko’s request, would be used for investments in the mineral industry, including the acquisition of royalties and the funding of precious metal streams.

The credit facility was secured by the company's assets and had a two-year term that could be extended by one year at each anniversary.

“We are pleased to have National Bank of Canada as a financial partner as we seek new investment opportunities to complement our strong asset base. With the addition of this credit facility to its already strong balance sheet, Osisko has significantly enhanced its financial flexibility in order to support its future growth initiatives,” Osisko chair and CEO Sean Roosen commented.