Osisko Gold Royalties Ltd (TSX:OR) (NYSE: OR) is pleased to announce that it has entered into an agreement to provide Falco Resources Ltd. (TSX-V: FPC) with a secured senior C$10 million loan to Falco.
Under the terms of the secured senior loan agreement, Osisko has provided Falco with a C$10 million loan. The loan has a maturity date of December 31, 2018 and interest shall be payable on the Principal Amount at a rate per annum that is equal to 7%, compounded quarterly. Accrued interest shall be payable upon repayment of the Principal Amount.
The Principal Amount shall be repaid on the earliest of the closing date of the stream transaction among Osisko and Falco announced on June 18, 2018, or December 31, 2018.
The loan will be used for the advancement of Falco’s Horne 5 Project and for general corporate purposes.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 130 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by five cornerstone assets, including a 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 15.5% interest in Osisko Mining Inc., a 12.6% interest in Falco Resources Ltd. and a 32.4% in Barkerville Gold Mines Ltd.
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