Gatos Silver, Inc. announced its 70%-owned Los Gatos Joint Venture announce its 70%-owned Los Gatos Joint Venture effective July 26, 2021. Gatos Silver’s attributable portion of the Term Loan retirement and related costs was approximately $155.9 million. Gatos Silver’s portion of the Term Loan retirement was funded with proceeds from the recently completed public offering, available cash on hand and $13 million borrowed under Gatos Silver’s Revolving Credit Facility. The Term Loan retirement greatly fortifies Gatos Silver’s balance sheet by eliminating significant annual interest, at least $31 million of annual principal payments and removing a requirement for approximately $50 million to be held as cash reserves under the Term Loan.