Update on Gediktepe Acquisition Debt
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ACG Metals Limited is pleased to announce that it is rapidly deleveraging in order to support the Company's long-term strategic objectives and enhance shareholder value.
As part of the acquisition of the Gediktepe Mine in Turkey, ACG entered into a $37.5 million acquisition debt agreement with Traxys Europe S.A. and Argentum Creek Partners as of 31st August 2024.
Within just two months, ACG has repaid $12.1 million of the principal amount of this gold prepay debt facility (-32%), bringing the outstanding principal amount down to $25.4 million as at 31st October 2024.
The other acquisition debt outstanding has decreased from $18.6 million to $13.5 million (-27%) following the conversion of $4,549,260 million into equity via Sponsor Loan Conversions and the repayment of $3.25 million in cash.
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