The Prospector News

Scottie Resources Announces Financing Package with Franco-Nevada Corporation

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Scottie Resources Announces Financing Package with Franco-Nevada Corporation

 

 

 

 

 

Scottie Resources Corp. (TSX-V: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to announce that it has entered into a financing arrangement with Franco-Nevada Corporation (TSX: FNV) (NYSE: FNV) whereby Scottie has agreed to sell a 2.0% gross production royalty to Franco-Nevada for C$8,100,000. The Royalty will apply to all minerals produced on Scottie’s claims in the Stewart Mining Camp in the Golden Triangle.

 

In addition, Franco-Nevada has agreed to purchase common shares of the Company comprising the entire back-end of an aggregate C$1,500,000 charity flow-through private placement at a price to flow-through subscribers of C$0.275 per flow-through common share of the Company.

 

President and CEO, Brad Rourke commented: “We are happy to welcome Franco-Nevada as a shareholder and stakeholder of Scottie. This transaction validates the progress we’ve made and recognizes the value opportunity present at Scottie. With the funding from Franco-Nevada and the proceeds raised from our January private placement, Scottie is in a strong financial position for future operations.”

 

The Private Placement remains subject to TSX Venture Exchange approval, and all securities issued in the Private Placement will be subject to a four-month hold period, during which time the securities may not be traded, other than pursuant to prospectus exemptions. The Company intends to use the gross proceeds raised from the Private Placement for exploration and related programs on the Company’s Scottie and Blueberry mineral properties. Further, each of the Royalty Transaction and the Private Placement remain subject to satisfaction of closing conditions customary for transactions of this nature.

 

ABOUT SCOTTIE RESOURCES CORP.

 

Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu property. Altogether Scottie Resources holds more than 60,000 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.

 

The Company’s focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.

 

All of the Company’s properties are located in the area known as the Golden Triangle of British Columbia which is among the world’s most prolific mineralized districts.

 

Posted April 2, 2024

Share this news article

MORE or "UNCATEGORIZED"


SILVER VIPER CLOSES FIRST TRANCHE OF LIFE OFFERING

Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is please... READ MORE

April 13, 2024

NioCorp Announces Closing of Financing Agreement

NioCorp Developments Ltd. (Nasdaq: NB) (TSX: NB) announced that i... READ MORE

April 12, 2024

Kuya Silver Announces Closing of Second and Final Tranche of Strategic Investment by Trafigura

Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) is... READ MORE

April 12, 2024

Steppe Gold Enters Into Share Exchange Agreement to Acquire Boroo Gold and Agrees to Sell the Tres Cruces Oxide Project

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) is pleased to ann... READ MORE

April 12, 2024

VIZSLA COPPER CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.5M AND PROVIDES UPDATES

Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) is pleased to... READ MORE

April 12, 2024

Copyright 2024 The Prospector News