Premier Gold Mines Limited (TSX:PG) announced that it has signing into a definitive credit agreement and of credit facility for $50,000,000 (CAD 66,729,500). The company also entered into a subscription agreement for private placement of 7,000,000 common shares at a price of CAD 1.58 per share for CAD 11,056,500 with new investors OMF Fund II So Ltd and Orion Mine Finance II LP for the total gross proceeds of CAD 77,789,500 on January 25, 2019. Post the closing, the investors will acquire approximately 12.4% stake in the company. The credit facility matures in four years and will bear interest at a variable rate per annum equal to LIBOR plus an applicable rate as determined by the company's debt to adjusted EBITDA ratio for the immediately preceding fiscal quarter ranging from 3% to 4.30%. The company also issue 2,000,000 common share purchase warrants. Each warrant will be exercisable into one common share for a period of three years from the date of issuance and will have an exercise price equal to CAD 2.05. On the same day, the company announced that it has issued 7,000,000 common shares at a price of CAD 1.58 per share for CAD 11,060,000 to OMF Fund II (SO) Ltd and Orion Mine Finance II LP in its first tranche.