Teranga Gold Receives Commitment Letter for $165 Million in Secured Debt Financing to Bring its Second Gold Mine into Production

Mar. 12, 2018 08:44AM PST

Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ) (OTCQX:TGCDF) is pleased to announce the receipt of a commitment letter from Taurus Funds Management (“Taurus”) setting forth a secured development finance facility (the “Facility”). Richard Young, President and Chief Executive Officer, said: “We are very pleased to be partnering with Taurus to deliver on our vision …

Richard Young, President and Chief Executive Officer, said:

“We are very pleased to be partnering with Taurus to deliver on our vision of becoming the next multi-asset mid-tier gold producer in West Africa.
Together with our cash on hand and free cash flows from our flagship Sabodala mine, we expect to have sufficient financial resources to bring Wahgnion, our second gold mine, into production and continue to advance Golden Hill through feasibility.”

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