07:57 AM EDT, 06/25/2025 (MT Newswires) -- Americas Gold and Silver ( USAS ) was at last look up more than 2% in US premarket trade Wednesday after closing its US$100 million senior secured debt facility with SAF Group. The funds will be used to fund growth and development capital spending at the Galena Complex in Idaho.

The US$100 million term loan facility consists of three tranches: a US$50 million term loan which was advanced to Americas upon closing, and two additional tranches of US$25 million each which will be made available when certain conditions are met.

Americas Gold said it is progressing well on its plans with underground development at the mine, and is making major equipment purchases and upgrades to the No. 3 shaft.

"The Term Loan Facility ensures we have the balance sheet strength to implement our aggressive major growth strategy at the Galena Complex. The US$100 million debt financing is critical to our plans to increase development rates and tonnage mined, and reduce unit costs at Galena," said Chief Executive Paul Huet.

USA was down near 2% on the TSX yesterday.