Vox Royalty announces up to $25M revolving credit facility

Vox Royalty entered into a definitive credit agreement with the Bank of Montreal providing for a $15 million secured revolving credit facility. The Facility includes an accordion feature which provides for an additional $10 million of availability subject to certain conditions. The Company has not drawn on the Facility as of the date hereof. The key terms of the new Facility are: $15 million senior secured Facility; Additional $10 million Accordion; Secured against the assets of the Company; Interest rate of Secured Overnight Financing Rate plus 2.50% to 3.50%, contingent upon the Company’s leverage ratio; Facility has flexibility to be drawn and repaid, with the undrawn portion subject to a standby fee of 0.5625% to 0.7875% per annum based on the undrawn amount; One-time arrangement fee of 0.50% and two-year upfront fee of 0.25% per annum on the total Facility amount, being $150,000 in the aggregate; The Facility will be available for general corporate purposes, acquisitions and investments; and Matures on December 31, 2025 with annual one-year extension option.