Contango converts 15,000 oz gold hedges into $33M debt; interest rate cut to 7.40%

Contango Silver & Gold Inc.

Amended credit facility: total principal increased from $12.6M to $46.3M; no restructuring fee.
Interest rate reduced to ~7.40% from ~8.9%; $33M added via term loans to terminate hedges.
Purchased 15,000 put options at $3,100/oz for $715k as price protection for hedge settlements.
Repayment schedule: $1M Sep 2026, $1M Dec 2026, $15.5M Mar 2027, $28.8M Jun 2027.
CEO states removal of gold price ceiling; company retains flexibility to repay debt early.

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