Leagold Mining Corporation announced the following debt and equity financings have been arranged, subject to completion of its acquisition of Brio Gold Inc.

Leagold Mining Corporation (TSX:LMC) announced the following debt and equity financings have been arranged, subject to completion of its acquisition of Brio Gold Inc. (TSX:BRIO).

Highlights are as follows:

  • Leagold’s existing US$150 million senior secured credit facility has been amended to provide an additional US$100 million tranche of funding. The US$100 million tranche will have a term of 18 months and will be used to fully repay Brio’s US$75 million senior secured credit facility and the drawn amounts of Brio’s US$22 million of debt with a group of Brazilian banks.
  • Orion Resource Partners, through a fund it manages, has agreed to subscribe for, on a private placement basis, US$45 million worth of Leagold common shares at C$2.7143 per share. This investment is expected to result in Orion’s current ownership in Leagold being maintained, on a pro forma basis, at approximately 16 percent.

Neil Woodyer, CEO, commented:

We are very pleased with the strong support from Leagold’s current lenders – Orion, Societe Generale and Investec – in providing an 18-month debt package that refinances the existing debt of Brio and increases our working capital. We are also pleased with Orion’s decision to maintain its equity ownership level in Leagold at approximately 16 percent, which is consistent with Orion’s participation rights, through the subscription of US$45 million of equity at Leagold’s current market price.

Later this year, and after the studies on the construction of a carbon-in-leach plant at the Los Filos mine are finalized, we expect to arrange a long-term and upsized financing structure with Societe Generale engaged as lead debt arranger. As part of the transaction, Investec has been mandated as Technical Agent for the lenders and will be working closely with Leagold as the studies are completed. Leagold’s growth projects include the Bermejal Underground expansion at the Los Filos mine, Brio’s restart of the Santa Luz mine, and the potential construction of a carbon-in-leach processing plant at the Los Filos mine that would enable higher recoveries for a wider range of ore types.

Click here to read the full Leagold Mining Corporation (TSX:LMC) press release.

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CMC Metals CEO Kevin Brewer

"We're very excited about the targets, which were verified with geochem and considered as valid drill targets. It's approximately 40 percent greater than all silver mines globally. And 140 percent greater than most silver explorers and developers in the world," shared CMC Metals CEO Kevin Brewer.

CMC Metals (TSXV:CMB,FWB:ZM5N,OTC Pink:CMCZF) CEO Kevin Brewer is excited and confident that the company's current strategy will lead to the discovery of several high-grade polymetallic deposits in the Silver Heart District in the Yukon.


CMC Metals CEO Kevin Brewer: Discovering the Next Major Silver District in the World

CMC Metals CEO Kevin Brewer shared that the company has five properties in that belt, including the flagship Silver Heart property. Since 2019, it has expanded the exploration footprint on that property by over 1,000 percent and identified eight new targets in that time.

"We're very excited about the targets, which were verified with geochem and considered as valid drill targets. It's approximately 40 percent greater than all silver mines globally. And 140 percent greater than most silver explorers and developers in the world. We know we're dealing with a very high-grade project at Silver Heart and some of our other properties in that district. We're very confident that our current strategy will lead to a discovery of not only one, but several high-grade polymetallic deposits in that district," added Brewer.

CMC Metals completed detailed mapping and sampling through a SkyTEM airborne geophysical survey earlier this year. In October 2021, the company identified high-grade polymetallic samples within the calcareous units at its proposed future exploration targets. The discovery included assays of 1,243 grams per tonne silver, 20.06 percent lead and 28 percent zinc.

"We have beautiful targets and we plan to go in and trench them first. We started putting in drill holes and started uncovering outcrops of mineralization late in the season. Overall, we've got 10,000 to 15,000 meter targets at this point. That's a lot for a small company like ours to take on, but we're going to be patient about it and we'll get there. We plan to do that," Brewer said.

Watch the full interview of CMC Metals CEO Kevin Brewer above.

Disclaimer: This interview is sponsored by CMC Metals. This interview provides information which was sourced by the Investing News Network (INN) and approved by CMC Metals in order to help investors learn more about the company. CMC Metals is a client of INN. The company's campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with CMC Metals and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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Dan Ahrens of AdvisorShares spoke to INN about his takeaways from 2021 in the cannabis investment space.

Expert: Cannabis Investments Need US Reform in 2022 youtu.be

As the year wraps up, one of the top cannabis investment experts breaks down his 2021 highlights and the expectations investors should have for 2022.

The Investing News Network (INN) sat down with Dan Ahrens, chief operating officer and portfolio manager with AdvisorShares, to get his perspective on what investors will remember about 2021 and what's next in the space.

Ahrens, an author and manager of two noteworthy cannabis public funds — the AdvisorShares Pure Cannabis ETF (ARCA:YOLO) and the AdvisorShares Pure US Cannabis ETF (ARCA:MSOS) — is encouraged by what's ahead.


The industry has gone through a challenging period since the highs seen near the start of the year. According to Ahrens, the possibility of political changes at the federal level in the US initially built momentum. However, that anticipation has instead led to frustration over progress in the country.

Ahrens spoke candidly about the irritation he has felt watching the political path for cannabis in the US after seeing so much excitement for both Joe Biden's presidential win and a critical run-off election at the Senate that gave Democrats an edge in the government chamber.

"Cannabis started with a big run-up in January and February … and things dragged from there," Ahrens said.

As of November 23, both MSOS and YOLO had seen double-digit drops year-to-date in the stock market, with MSOS down nearly 30 percent and YOLO dipping over 16 percent.

The exchange-traded fund manager said investors need to understand that volatility in the cannabis space will continue to be present. "It can drag on for quite awhile and be very painful," he said.

Despite the challenges of the year, Ahrens is encouraged by the maturity displayed by US operators in particular, which in his view are in desperate need of federal reform to elevate into the next phase.

"There's been a big, big separation between company performance, between the actual financials, revenue growth quarter-over-quarter and year-over-year, vs. the stock price," Ahrens told INN.

Watch the full interview above to hear the rest of Ahrens' thoughts on cannabis investments and what's ahead in 2022. You can also click here to watch the rest of the videos on our YouTube channel.

Don't forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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