ACCESS Newswire

Monarch Mining Corporation

Share
Monarch Mining Corporation Announces a $13.5 Million Financing With Investissement Québec
  • Three-year term loan agreement with a maximum annual interest rate of 6% to restart the Beaufor Mine and the Beacon Mill
  • Monarch continues to strengthen its financial position, with over $43 million in cash and cash equivalents

MONTREAL, QC / ACCESSWIRE / August 3, 2021 / MONARCH MINING CORPORATION ('Monarch' or the 'Corporation') (TSX:GBAR)(OTCQX:GBARF) is pleased to announce that it has entered into a $13.5 million senior secured term loan agreement (the 'Loan') with Investissement Québec. The Loan has a three-year term and bears interest at an annual rate of 6% until the restart of the Beaufor Mine and Beacon Mill, 5% during the first year of production and 4% for the subsequent years, subject to certain pre-established terms and conditions.

'We are delighted to have received financial support from Investissement Québec to restart operations at the Beaufor Mine and Beacon Mill,' said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. 'This latest non-dilutive financing agreement, combined with other recently announced financings, will enable us to easily recommission our two main mining assets while maintaining an excellent financial position. We estimate that we will be able to create over 100 new high-quality jobs when our facilities become fully operational in 2022.'

'The mining industry plays a key role in our economy and generates wealth in many of our regions. The revival of the Beaufor Mine and Beacon Mill is an initiative that will support the economic recovery in Abitibi-Témiscamingue while continuing to develop our expertise in the gold sector. Our government is proud to support Monarch's project, which will contribute to the creation of some 100 quality jobs in the region.'

Eric Girard, Minister of Finance and Minister of Economy and Innovation

'Mining is part of Abitibi-Témiscamingue's DNA, where the mining sector is an important source of wealth and jobs for local communities. The revival of the Beaufor Mine and Beacon Mill will support the post-pandemic economic recovery, in addition to enhancing existing facilities in the region and capitalizing on our abundant natural resources.'

Pierre Dufour, Minister of Forests, Wildlife and Parks and Minister Responsible for the Abitibi-Témiscamingue Region and the Nord-du-Québec Region

'The mining industry has been and continues to be key to Québec's economic development. With this financing, we are pleased to be working with an experienced team to resume long-term operations of a gold mine and mill in Abitibi-Témiscamingue, thereby contributing to developing our natural resources and building our expertise while generating significant benefits for the region.'

Guy LeBlanc, President and Chief Executive Officer of Investissement Québec

Once the transaction closes, Monarch will have a stronger balance sheet, with over $43 million in cash and cash equivalents.

The transaction is subject to certain conditions, including, but not limited to, the execution of a final agreement, approval of the Toronto Stock Exchange and other closing conditions that are standard for transactions of this nature.

About Investissements Québec

Investissement Québec's mission is to play an active role in Québec's economic development by stimulating business innovation, entrepreneurship and recovery, as well as investment and export growth. Active in every administrative region of Québec, the corporation supports the creation and development of businesses of all sizes through investments and adapted financial solutions. Investissement Québec also supports companies through consulting services and other accompanying measures, including technological support offered by Investissement Québec - CRIQ. Also, through Investissement Québec International, the corporation assists companies in exporting and prospecting for foreign talent and investment in Québec.

About Monarch

Monarch Mining Corporation (TSX: GBAR) is a fully integrated mining company that owns four advanced projects, including the fully permitted past-producing Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch's wholly owned and fully permitted Beacon 750 tpd mill. Monarch owns 28,702 hectares (287 km2) of mining assets in the prolific Abitibi mining camp that host 714,982 ounces of combined measured and indicated gold resources and 421,793 ounces of combined inferred resources.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:

Jean-Marc Lacoste
President and Chief Executive Officer
1-888-994-4465
jm.lacoste@monarchmining.com

Mathieu Séguin
Vice President, Corporate Development
1-888-994-4465
m.seguin@monarchmining.com

Elisabeth Tremblay
Senior Geologist - Communications Specialist
1-888-994-4465
e.tremblay@monarchmining.com

www.monarchmining.com

SOURCE: Monarch Mining Corporation



View source version on accesswire.com:
https://www.accesswire.com/658087/Monarch-Mining-Corporation-Announces-a-135-Million-Financing-With-Investissement-Qubec

To view this piece of content from www.accesswire.com, please give your consent at the top of this page.

About ACCESS Newswire

DK

Subscribe to releases from ACCESS Newswire

Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ACCESS Newswire

Jama Connect(R) Attains Level 2 TISAX Certification from TÜV SÜD9.7.2025 13:00:00 CEST | Press release

Jama Connect is the only requirements management application that is both TISAX and SOC 2 certified PORTLAND, OR / ACCESS Newswire / July 9, 2025 / Jama Software®, the industry leading requirements management and traceability solution provider, announced today that it has achieved Level 2 Trusted Information Security Assessment Exchange (TISAX) certification from TÜV SÜD. TISAX is a security standard created by the German Association of the Automotive Industry (VDA). Jama Connect® is now the only requirements management application that is both TISAX and SOC 2 certified. This achievement underscores Jama Software's unwavering commitment to information security and data protection. TISAX certification is a critical benchmark for meeting the stringent security requirements of German OEMs and their global supply chains, ensuring that sensitive customer and product data is handled with the highest standards of confidentiality, integrity, and availability. For our customers, this certificat

AGFA HealthCare Achieves HITRUST I1 Certification, Demonstrating Its Commitment to and Compliance With Data Protection Standards, and Protecting Against Cybersecurity Threats9.7.2025 10:00:00 CEST | Press release

HITRUST certification validates that AGFA HealthCare is operating using leading security practices to protect sensitive information. MORTSEL, BE / ACCESS Newswire / July 9, 2025 / AGFA HealthCare, a leading provider of Imaging IT, today announced that its Enterprise Imaging Solutions earned certified status by HITRUST for information security.AGFA HealthCare HITRUST i1 certification demonstrates that AGFA HealthCare's Enterprise Imaging Solutions are leveraging a comprehensive standard, covering 182 control requirements - including mappings to over 40 authoritative sources - to protect against current and emerging threats. The HITRUST i1 Validated Assessment and Certification allows organizations to demonstrate that they address cybersecurity challenges and remain cyber resilient over time. "HITRUST i1 Certification gives our internal and external stakeholders confidence that we are following leading security practices," said Nathalie McCaughley, President at AGFA HealthCare. Jarius Ja

Champions Oncology Launches Radiopharmaceutical Services Platform, Expands Isotope License, and Screens More Than 30 PDX Models8.7.2025 14:30:00 CEST | Press release

Expanded offering delivers integrated radiopharmaceutical studies using clinically relevant isotopes and highly characterized PDX tumor models HACKENSACK, NJ / ACCESS Newswire / July 8, 2025 / Champions Oncology (NASDAQ:CSBR) a leading translational oncology research organization, today announced the full commercial launch of its radiopharmaceutical services platform. This milestone follows the expansion of the company's radioactive materials license, the completion of the radiochemistry infrastructure, and the successful screening of more than thirty PDX models in collaboration with pharmaceutical and biotech partners. Champions now offers fully integrated radiopharmaceutical workflows combining in vitro, ex-vivo biodistribution, and therapeutic efficacy studies across a wide range of isotopes. The company's platform is uniquely differentiated by its extensive bank of patient-derived xenograft (PDX) tumor models, enabling drug developers to evaluate radiolabeled agents in clinically r

Karbon-X Becomes Official Name Sponsor of BK Dukes Basketball Team8.7.2025 09:00:00 CEST | Press release

CALGARY, AB / ACCESS Newswire / July 8, 2025 / Karbon-X Corp. (OTCQX:KARX), a vertically integrated climate solutions company, has signed a multi-year agreement to become the official name sponsor of BK Dukes, one of Austria's top professional basketball teams. Effective immediately, the team will compete as the BK Karbon-X Dukes. This partnership brings together two high-performance organizations committed to community, innovation, and progress chon and off the court. Fresh off their 2024-2025 Austrian Cup Title win, the BK Dukes are working with Karbon-X to integrate measurable sustainability initiatives throughout the organization. This includes annual emissions reporting, offsetting all team and venue Scope 1, 2, and 3 emissions, and incorporating an emissions offset fee into every ticket purchase to address fan-related impacts. Together, they are building a model of leadership that extends far beyond the scoreboard. "This partnership represents what climate action should look like

Polaris Renewable Energy Announces Q1 2025 Investor Call Details7.7.2025 22:10:00 CEST | Press release

TORONTO, ON / ACCESS Newswire / July 7, 2025 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") is pleased to announce it will be holding its Earnings Conference Call and Webcast to report its Q2 2025 Earnings Results on Thursday, July 31st, 2025, at 10:00 am EST. To listen to the call, please dial Toll Free 888-506-0062 or International Toll-Free Number 973-528-0011 entry code 108489. or URL: https://www.webcaster4.com/Webcast/Page/2773/51833 A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay Call Information: Toronto: 1 877-481-4010, Passcode: 51833 International (toll-free): 1 919-882-2331, Passcode: 51833 Encore Replay Expiration Date: August 14, 2025 About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America and the Caribbean. We are a high-performing an

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye