Québec City, Québec, April 20th, 2023 – Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is pleased to announce that all conditions precedent to the closing of the previously announced US$ 35 million Bridge Loan (the “Bridge” or “Bridge Facility”) with Taurus Mining Finance Fund No. 2, L.P. (“Taurus”) have been met or waived, and a first drawdown request has been completed.
Since the signing of the Bridge on March 21st 2023, the Company and Taurus have worked together to satisfy all conditions precedent to the closing of the Bridge Facility. Commercial and legal terms remain unchanged as those disclosed in the press release dated March 21, 2023, including the issuance of 22.5 million non-transferable common share purchase warrants to Taurus with an exercise price of C$ 0.39 per common share which are subject to a four-month hold period expiring on August 20, 2023 as required under applicable securities legislation.
The first drawdown proceeds will reimburse certain capital costs of the Kiniero project, as well as invoices for advanced orders being placed in the coming weeks. Future drawdowns will be used to fund ongoing project capital and operating costs at Kiniero.
Taurus and Robex will now work together on the remaining terms of the second portion of the previously announced financing package, namely the US$ 115 million project finance facility including a US$ 15 million cost overrun facility.
Aurelien Bonneviot, CEO said: “We are pleased to have closed the first part of the mandate letter and have completed the first drawdown request within a short time period. This will allow us to mobilize our construction team with Wacom on site and to accelerate the development of the project”.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with nearterm exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.
Robex is supported by two strategic shareholders and has the ambition to become one of the most important mid-tier gold producers in West Africa.
Taurus Funds Management is an independent Australian-based fund management firm providing (i) investments in both public and private mining companies, and also (ii) bespoke financing solutions for mid-tier and junior mining companies. Established in 2006, the firm has a diversified portfolio and spreads its investments across various commodities.
ROBEX RESOURCES INC.
Aurélien Bonneviot, Chief Executive Officer
Stanislas Prunier, Investor Relations and Corporate Development
+1 581 741-7421