Trigon Metals completes credit agreement with Sprott Mining

Torys acted as counsel to Sprott Mining with a team that included Michael Pickersgill, Tom Zverina and Brendan Dean (mining).

On May 24, 2022, Trigon Metals Inc. (“Trigon”) entered into a credit agreement with Sprott Mining Inc. (“Sprott Mining”) and its wholly owned subsidiary, Trigon (Morocco) Holding Corp. (“Trigon Morocco”), pursuant to which Sprott Mining lent Trigon US$2.5 million. The loan has a term of 180 days, will accrue interest at the rate of 12.0% per annum (payable in arrears), and is secured by security interest over all present and after acquired property of Trigon and Trigon Morocco, with a first ranking charge against Trigon’s Moroccan assets.

The proceeds of loan are to be used to fund Trigon’s operations in Namibia and for working capital purposes.

Further information can be found on Business Wire’s website.

Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions.

Sprott Mining is a private company focused on acquiring, building and managing a diversified portfolio of producing mining assets in North America.