- SolGold ( OTCPK:SLGGF ) has received a US$50M royalty financing from Osisko Gold Royalties with reference to its Cascabel copper-gold project in northern Ecuador.
- Osisko will receive a 0.6% NSR interest from SolGold ( OTCPK:SLGGF ), calculated with reference to net smelter returns from the Cascabel licence area.
- SolGold ( OTCPK:SLGGF ) has a buy-back option, exercisable at SolGold's election for four years from closing, for one-third of the NSR interest.
- Liam Twigger, Chairperson of SolGold, commented: "This funding immediately removes the financing overhang that has encumbered SolGold and provides an accretive and attractive financing solution. SolGold can now devote its complete attention to the Strategic Review Process which is currently underway to maximize shareholder value."
For further details see:
SolGold gets $50M royalty funding from Osisko Gold