BROSSARD, QC / ACCESSWIRE / May 17, 2022 / G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSXV:GMIN) (OTCQB:GMINF) is pleased to report advancement on the project financing for its 100% owned Tocantinzinho Gold Project ("TZ" or the "Project"). As previously announced on February 9, 2022, the Corporation is evaluating various sources of funding, including commercial bank debt, private debt, precious metals streaming, and strategic equity, and is working towards having the project financing secured to move forward with a construction decision by mid-2022.
Since the project financing process was initiated, the Corporation has received a variety of strong, comprehensive proposals from some of the leading financiers to the global mining sector. GMIN has finalized its analysis of these proposals and will commence advancing the definitive documentation with its selected parties with a view to enabling construction to commence in the second half of 2022. The Corporation continues to target 60% to 70% of the capital required from non-equity sources, with the objective of minimizing the cost of capital while maximizing equity return on a per share basis.
Louis-Pierre Gignac, President & CEO of GMIN, commented, "After much hard work, we are nearing completion of our project financing process as we advance towards making a positive construction decision. Despite the challenging market conditions, the capital markets have given us a lot of support for our ‘Self Perform' model in project execution, recognizing our team's track record of delivering projects on time and on budget. Considerable due diligence has been performed by all parties involved, and while there are still items to be finalized, we are excited to get close to achieving this major milestone. We look forward to sharing the details on the project financing package, once finalized."
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX.V:GMIN) (OTCQB:GMINF) is a mineral exploration company engaged in the acquisition, exploration and development of precious metal projects, to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow the company into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by its flagship Tocantinzinho Project in mining friendly and prospective Para State, Brazil.
Additional Information
For further information on GMIN, please visit the website at www.gminingventures.com or contact:
Jessie Liu-Ernsting
Director, Investor Relations and Communications
647.728.4176
[email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (A) the Corporation having the project financing secured and advancing the definitive documentation such that (i) a construction decision is made by mid-2022 and (ii) construction commences in the second half of 2022, (B) the financing process nearing completion, and (C) more generally, the contents of the above section entitled "About G Mining Ventures Corp.".
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those underlying the items listed on the above section entitled "About G Mining Ventures Corp.".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, the Corporation will (A) achieve 60% to 70% of the capital required from non-equity sources, such that it could minimize its cost of capital while maximizing equity return on a per share basis, (B) make a positive construction decision regarding its Tocantinzinho project by mid 2022, or (C) will bring its Tocantinzinho project into commercial production, as future events could differ materially from what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant section of the Corporation's Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
SOURCE: G Mining Ventures Corp.