Osisko Enters Into $10 Million Secured Senior Loan Agreement With Falco Resources
September 11 2018 - 08:30AM
Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (TSX &
NYSE: OR) is pleased to announce that it has entered into an
agreement to provide Falco Resources Ltd. (“Falco”) (TSXV: FPC)
with a secured senior C$10 million loan to Falco.
Under the terms of the secured senior loan
agreement (the “Loan Agreement”), Osisko has provided Falco with a
C$10 million (the “Principal Amount”) 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.
Osisko’s head office is located at 1100 Avenue
des Canadiens-de Montréal, Suite 300, Montréal, Québec, H3B
2S2.
For
further information please contact, Osisko Gold
Royalties: |
Joseph de
la PlanteVice President, Corporate DevelopmentTel. (514)
940-0670jdelaplante@osiskogr.com |
Forward-looking Statements
Certain statements contained in this press
release may be deemed “forward‐looking statements” within the
meaning of applicable Canadian and U.S. securities laws. These
forward‐looking statements, by their nature, require Osisko to make
certain assumptions and necessarily involve known and unknown risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in these forward‐looking
statements. Forward‐looking statements are not guarantees of
performance. These forward‐looking statements, may involve, but are
not limited to repayment of the loan to Falco, the use of proceeds
of the loan and the closing of the stream transaction announced on
June 18, 2018. Words such as “may”, “will”, “would”, “could”,
“expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”,
“continue”, or the negative or comparable terminology, as well as
terms usually used in the future and the conditional, are intended
to identify forward‐looking statements. Information contained in
forward‐looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management’s perceptions of
historical trends, current conditions and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances. Osisko considers its
assumptions to be reasonable based on information currently
available, but cautions the reader that their assumptions regarding
future events, many of which are beyond the control of Osisko, may
ultimately prove to be incorrect since they are subject to risks
and uncertainties that affect Osisko and its business.
For additional information with respect to these
and other factors and assumptions underlying the forward‐looking
statements made in this press release, see the section entitled
“Risk Factors” in the most recent Annual Information Form of Osisko
which is filed with the Canadian securities commissions and
available electronically under Osisko’s issuer profile on SEDAR at
www.sedar.com and with the U.S. Securities and Exchange Commission
and available electronically under Osisko’s issuer profile on EDGAR
at www.sec.gov. The forward‐ looking information set forth herein
reflects Osisko’s expectations as at the date of this press release
and is subject to change after such date. Osisko disclaims any
intention or obligation to update or revise any forward‐looking
statements, whether as a result of new information, future events
or otherwise, other than as required by law.
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