Endeavour Silver Corp announce that its wholly-owned subsidiary, Terronera Precious Metals, S.A. de C.V. (Terronera) has amended and restated the previously announced senior secured debt facility (the Credit Facility) with ING Capital LLC (together with ING Bank N.V.) and Societe Generale acting as Joint Lead Arrangers. The Credit Facility was announced by press release on October 10, 2023.
Among other things, the Credit Facility was amended and restated to increase the principal amount of up to $120,000,000 by an additional $15,000,000, bringing the aggregate principal amount up to $135,000,000.
Proceeds from the Credit Facility will be used towards completing commissioning at the Company’s Terronera Project in Jalisco state, Mexico and for general working capital purposes. All references to dollars ($) in this news release are in United States dollars.
As a condition to funding and a risk management strategy, Terronera has entered into zero cost collars to partially manage silver price exposure and cash flows over the next twelve months. With these zero cost collars, Terronera has protected the downside at $31.00 per ounce and will participate in any silver appreciation up to $42.00 over that period for approximately 968,000 silver ounces.
Terronera commissioning activities are proceeding as planned and remain aligned with management’s expectations. The Company will provide an update as it approaches the commencement of commercial production
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