Monarch Mining Corporation
3.8.2021 13:36:59 CEST | ACCESS Newswire | Press release
- 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
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
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
Clean Air Metals and Fiore-Backed Springbok Ventures Announce Strategic Business Combination1.8.2026 01:15:00 CEST | Press release
Strategic Transaction to Position Thunder Bay North for Development, Strengthen Capital Markets Profile and Create a New Critical Minerals Growth Platform Not for distribution to United States newswire services or for dissemination in the United States. Highlights A strategic business combination with Springbok Ventures, a Fiore Group-backed company focused on critical minerals in Ontario Creation of a growth-oriented critical minerals platform focused on domestic critical minerals in Canada with the ability to pursue future acquisitions and strategic opportunities Minimum C$5 million concurrent financing of subscription receipts Partnership with the Fiore Group, one of Canada's leading mining groups Continued advancement of the Thunder Bay North Critical Minerals Project Addition of the Maude Lake Property in Ontario as an exploration asset THUNDER BAY, ON / ACCESS Newswire / July 31, 2026 / Clean Air Metals Inc. ("Clean Air Metals") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF), 1602037 B.C. Ltd.
Review of 31 Studies Finds Vegan Dog Food and Vegan Cat Food Are Well Digested30.7.2026 21:00:00 CEST | Press release
LONDON, UK / ACCESS Newswire / July 30, 2026 / A new scientific review has found that nutritionally sound vegan dog food, vegan cat food and vegetarian pet diets are generally well digested and broadly comparable to conventional meat-based diets. The review, published in the journal Animals, examined 31 existing studies assessing the digestibility of vegan, vegetarian and plant-based pet diets and ingredients in dogs and cats. Twenty-two studies focused on dogs, two on cats and seven included both species. The review found that across a wide range of study designs, dietary ingredients and digestibility measures, vegan and vegetarian diets consistently showed high digestibility and were not normally significantly less digestible than conventional meat-based diets. Digestibility is an important factor because it indicates how effectively animals can absorb and utilise nutrients from food. While modern commercial plant-based pet foods are generally formulated to provide all essential nutr
Polaris Renewable Energy Announces Q2 2026 Results30.7.2026 13:50:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / July 30, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to report its financial and operating results for the three and six months ended June 30, 2026. This earnings release should be read in conjunction with the Company's consolidated financial statements and management's discussion and analysis, which are available on the Company's website at www.PolarisREI.com and have been posted on SEDAR+ at www.sedarplus.ca. The dollar figures below are denominated in US Dollars unless noted otherwise. HIGHLIGHTS Second quarter consolidated energy production totaled 199,130 MWh, representing a 8% decrease from 215,797 MWh in the same quarter last year. The decrease was consistent with management's expectations and primarily reflects higher curtailment in the Dominican Republic and the return to normalized hydrological conditions in Peru and Ecuador. The comparative period benefited from exceptionally strong
Polaris Renewable Energy Declares Quarterly Dividend30.7.2026 13:50:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / July 30, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to announce that its board of directors has declared a quarterly dividend of US$0.15 per common share outstanding. This dividend will be paid on August 21st, 2026, to shareholders of record at the close of business on August 10th, 2026. The dividend is an "eligible dividend" as designated for Canadian federal, provincial, and territorial income tax purposes. The board of directors of Polaris Renewable Energy remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward. 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 & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Compa
New GTDC Research Illuminates Distribution's Expanding Role in Modern Technology Ecosystems29.7.2026 15:00:00 CEST | Press release
TAMPA, FL / ACCESS Newswire / July 29, 2026 / The Global Technology Distribution Council (GTDC), the world's largest consortium of technology distributors, today released a new research report, The Evolving Role of Distribution in Technology Go-To-Market Models, developed in partnership with Channelnomics. The study examines the shift in distribution from a traditional channel intermediary into a strategic operating platform that helps vendors and partners scale, increase support and overcome the complexities associated with innovation (i.e., AI and cybersecurity) and integration. According to the research, customer expectations are rising rapidly as organizations seek integrated outcomes across AI, cybersecurity, hybrid cloud, automation, analytics and managed services. Vendors and partners increasingly struggle to meet those market demands independently with solutions requiring cross-platform integration, multi-vendor coordination, lifecycle support and operational consistency. The G
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