- US$50 Million Investment from Osisko Gold Royalties
BISHOPSGATE, LONDON / ACCESSWIRE / November 7, 2022 / The Board of Directors of SolGold (LSE:SOLG)(TSX:SOLG) is pleased to announce that SolGold has entered into a binding agreement with Osisko Gold Royalties Ltd ("Osisko") for a US$50 million royalty financing ("Royalty Financing") with reference to the Company's Cascabel copper-gold project in northern Ecuador.

Osisko will receive a 0.6% NSR interest from SolGold, calculated with reference to net smelter returns from the Cascabel licence area. SolGold 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:

"We are very pleased to enter into this agreement with Osisko. The Osisko group is recognized as one of the most successful mining teams in the world. 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."

Recently appointed SolGold Director Dan Vujcic, commented:

"This financing shows the intent going forward of SolGold becoming a nimble and agile organisation that can procure attractive financing even in a turbulent macro environment. Working with Osisko, a party, like SolGold, with big aspirations is exciting and is testament to the relationships that can be forged on the back of owning a Tier 1 project in a commodity essential to the global shift to decarbonisation." see & read more on
https://www.accesswire.com/724137/SolGoldPLCAnnouncesUS2450MillionInvestmentfromOsiskoGoldRoyalties