West Red Lake Gold Mines Signs $95 Million Binding Term Sheet With Centalion

11:01 AM EST, 11/02/2026 (MT Newswires) -- West Red Lake Gold Mines (WRLG.V) executed a binding term sheet with Centalion for a proposed credit facility of up to $95 million, it said in a statement on Monday. The proposed facility is to be between the Centalion unit Gunvor and the company's wholly-owned units, West Red Lake Gold Mines (Ontario) Ltd. and Red Lake Madsen Mine Ltd, it said. The company's proposed facility comprises an initial tranche of up to $65 million, and a second tranche of up to $30 million, subject to some conditions. The proposed facility contemplates a five-year maturity and a principal repayment holiday on Tranche 1 for a period of nine months from the initial disbursement of Tranche 1 funds, it said. The company expects to use the funds advanced under the proposed facility to refinance its existing secured debt facility with Nebari Natural Resources Credit Fund II LP, while providing additional working capital to support ongoing development at the Madsen Mine and potential funding for future development at the Rowan project, both located in the Red Lake Mining District of Northwestern Ontario, Canada. Shares of the company were last seen up 7.7% at CA$0.56 on the TSX Venture Exchange. Price: 0.56, Change: +0.04, Percent Change: +7.69