The Senior Facility was established in 2018 to fund the development and construction of the Fruta del Norte ("FDN") gold mine in Ecuador with an original principal amount of $350 million from a syndicate of seven lenders that consisted of ING Capital LLC, Societe Generale, Caterpillar Financial Services Limited (Cat Financial), The Bank of Nova Scotia, Natixis, KfW IPEX-Bank GmbH and Bank of Montreal, a portion of which was supported by a raw material guarantee provided by the Finnish export credit agency, Finnvera plc.
Ron Hochstein, President and CEO commented, "I would like to take this opportunity to thank each of the lenders and guarantor for their participation and trust in Lundin Gold, the country of Ecuador, and Fruta del Norte in 2018. Their belief and continued support through the construction of FDN and subsequent transition to operations allowed us to introduce responsible mining in Ecuador and create opportunities for the people of Zamora-Chinchipe that may not have otherwise existed. We are pleased to execute our debt reduction strategy on an accelerated basis. The full repayment of the Senior Facility provides Lundin Gold with improved free cash flow margins and increased capital allocation flexibility."

Additional Information

The information in this release is subject to the disclosure requirements of Lundin Gold under the EU Market Abuse Regulation. This information was publicly communicated on November 14, 2023 at 2:00 p.m. Pacific Time through the contact persons set out below.

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