Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

Osisko Metals Announces Royalty Financing of $5 Million With Osisko Gold Royalties

 

 

 

 

 

Osisko Metals Incorporated (TSX-V:OM) (FRANKFURT:OB5) is pleased to announce that it has entered into an agreement with Osisko Gold Royalties Ltd whereby Osisko Gold will acquire a 1% net smelter return royalty on Osisko Metals’ current portfolio of projects within both the Bathurst Mining Camp and Quebec, for a cash consideration of C$5 million. The acquired royalty will also apply to areas that Osisko Metals may acquire in the future that fall within a one kilometer distance from their current property holdings. Osisko Gold will also acquire existing royalty buy-back agreements on current projects and will hold rights of first refusal on any future royalty or metal stream sale from existing or newly acquired properties by Osisko Metals.

 

 

The current Agreement is expected to close on or around October 18, 2017, subject to regulatory approvals. Osisko Gold Royalties Ltd is considered as an insider and the Corporation intends to rely on exemptions from the “formal valuation” and “minority approval” requirements of MI 61-101 in respect of the “related party transaction”.

 

 

Jeff Hussey, President and CEO of Osisko Metals, stated: “This royalty financing with Osisko Gold Royalties represents the final stage of 2017 financings, all successfully completed since listing Osisko Metals last June. The Company has now raised a total of C$41.5 million to implement new acquisitions, exploration and drilling programs, mostly within the BMC. Osisko Gold’s investment in our Company underlines their confidence in our ability to upgrade and expand the slate of historical zinc-lead-copper deposits in our BMC properties into NI43-101 compliant resources, and to further increase shareholder value through strategic property acquisitions.”

 

 

About Osisko Metals

 

 

 

Osisko Metals is a Canadian exploration and development company creating value in the base metal markets with an emphasis on the zinc space. In 2017, the Company acquired over 50,000 hectares in the Bathurst Mining Camp. The objective is to develop a multi-deposit asset base that would feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers for projects hosting zinc, copper, and nickel for acquisition opportunities. In Québec, the Company acquired 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. Osisko Gold Royalties Ltd and Osisko Mining Inc. are significant shareholders of the Company, with Osisko Gold Royalties currently holding a 12.8% interest.

 

Posted October 12, 2017

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MORE or "UNCATEGORIZED"


American Manganese CEO has several one on one meetings with Funds (Audio)

HoweStreet.com | Talk Digital Network https://www.howestreet.com/... READ MORE

September 22, 2018

Tom McClellan - "Gold Now Bound to the Yuan"

September 20, 2018 Old-school monetarists have long... READ MORE

September 21, 2018

The Critical Investor - "Cypress Development Announces Strong PEA Economics And Increased Resource At Clayton Valley Lithium Project"

Drilling at Clayton Valley Lithium project, Nevada Introduction &... READ MORE

September 21, 2018

Jordan Roy-Byrne - "Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market"

Gold stocks failed to breakout in the spring and then brokedown t... READ MORE

September 21, 2018

Rick Mills - "Update - SQM’s quest for lithium dominance"

Chile’s Sociedad Quimica y Minera (SQM) is the second largest l... READ MORE

September 21, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions