SolGold PLC Announces Key Financial Developments

Key Financial Developments

BISHOPSGATE, LONDON / ACCESSWIRE / May 14, 2024 / The Board of Directors of SolGold is pleased to share the substantial progress made in our financial initiatives. Management is currently in detailed discussions with capital providers who have shown a strong interest in committing to a robust, longer-term financing package for the Cascabel Project ("Project"). This proposed Financing ("Financing") is projected to cover a significant portion of the estimated initial capital development costs of the Project, highlighting its position as a Tier 1 asset and a premier investment opportunity.

In parallel, SolGold has secured a US$10 million loan facility ("Loan Facility"). The Loan Facility provides an immediate cash infusion of US$10 million to support the Company's ongoing operations. Executed under customary terms and conditions appropriate for a loan facility of this nature, it offers favorable repayment options, thus enhancing our ability to manage our financial commitments efficiently. This funding is intended to give SolGold the flexibility required as we aim to finalize the more comprehensive Financing arrangement.

Chris Stackhouse, CFO of SolGold, commented, "These developments are significant for SolGold as we continue to establish the financial foundations necessary for the next phases of the Cascabel Project. The strong interest from potential financiers not only validates the Project's exceptional prospects but also strengthens our capability to achieve planned milestones."

It is important to note, however, that while the Financing discussions are advancing, the completion of a transaction remains subject to negotiation, and there is no guarantee of a finalized Financing transaction. The proposed Financing is expected to be subject to certain conditions, including the receipt of necessary permits and agreements, a final investment decision, and additional stipulations, some of which are still being defined.

This announcement has been approved for release by Scott Caldwell, Chief Executive Officer. Certain information contained in this announcement would have been deemed inside information.

CONTACTS

Scott Caldwell SolGold Plc (CEO)	Tel: [phone]
Tavistock (Media)