On October 29, 2021, Rambler Metals and Mining plc (AIM: RMM) ("Rambler") announced that it had completed a 3-year senior secured debt financing in the amount of US$22 million (the "Loan Note") with NewGen Resource Lending Inc. ("NewGen"), an institutional investor based in Toronto, Canada.

The Loan Note will be closed in three tranches with the first tranche of US$12.4 million closed on October 29, 2021, which includes a rollover of the existing senior debt of US$5.0 million from a fund advised by West Face Capital Inc. and bridge loan of US$1 million, US$1.8 million by November 5, 2021, and US$7.8 million by December 31, 2021.

Rambler is a copper and gold producer, explorer and developer. It has a 100% ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada. Rambler also owns 100% of the former producing Little Deer and Whales Back copper mines.

Gowling WLG advised NewGen with respect to this financing with a Canada-UK team led by Tim Ross, and that included Travis Evens, Tyler Dales, and student-at-law Alexander De Sousa (corporate/lending) in Canada; and Navin Prabhakar and Rhodri Williams (lending), and Sunil Kakkad, Charles Bond and Hannah Shamsolmaali (corporate/AIM) in the UK.