May 1, 2025
Versamet Completes Minera Kolpa Copper Stream Acquisition and Upsizes Revolving Credit Facility
Versamet Royalties Corporation (“Versamet” or the “Company”) announces that it has completed its previously announced acquisition (the “Acquisition”) of a US$35 million copper stream on the Huachocolpa Uno mine (“Kolpa”) from Endeavour Silver Corp. and certain of its wholly-owned subsidiaries (collectively “Endeavour Silver”), in conjunction with Endeavour Silver’s acquisition of all the outstanding shares of Compañía Minera Kolpa S.A.
In connection with completing the Kolpa Acquisition, Versamet has entered into an amending agreement with the Bank of Montreal and the National Bank of Canada to amend and increase the size of the Company’s secured Revolving Credit Facility (“RCF”) to US$60 million with a US$15 million accordion feature. The new RCF will have a maturity date of April 30, 2028 and includes an approximate 25 basis point reduction to the drawn interest spread, among other changes that will benefit Versamet. Additionally, and contemporaneously with the closing of the RCF, Versamet has fully repaid the convertible loan facility with Beedie Investments Ltd. At the closing of the aforementioned transactions, the drawn balance on the expanded RCF is US$55 million.
“Versamet is very happy to partner with Endeavour Silver on this transaction, and we congratulate them on this important step towards becoming a premier senior silver producer,” said Dan O’Flaherty, CEO of Versamet. “With Versamet on the cusp of listing its shares on the TSX Venture Exchange, we are excited to add Kolpa and its immediate production to our portfolio, which as a whole is expected to produce between 14,000 and 16,000 gold equivalent ounces in 2026. Additionally, our newly expanded RCF simplifies our capital structure, lowers the Company’s overall interest rate and positions us exceptionally well for continued value-enhancing growth.”
For more information about Versamet Royalties, please visit our website at
www.versamet.com or email us at info@versamet.com |
