Roscan Gold Enters into Royalty Sale Agreement with Osisko Gold for up to $10M
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Roscan Gold Enters into Royalty Sale Agreement with Osisko Gold for up to $10M

byColin Sandell-Hay, Contributor - The Assay
10 months ago
Reading Time: 2 mins read
Roscan Gold Confirms High-Grade Mineralisation Continuity At Mankouke South

Roscan Gold Corporation (TSXV: ROS) has entered into a royalty financing agreement with Osisko Gold Royalties Ltd involving a royalty financing related to the company’s entire 401.8 sq. km Kandiolé Project in Mali, West Africa.

Osisko has initially acquired a 1.0% net smelter return (“NSR”) royalty for upfront consideration of $5.0 million. Pursuant to the Agreement, Osisko will retain the option to purchase a second 1.0% NSR (for a total NSR royalty percentage of 2.0%) on the Property at any time for an additional $5.0 million.

Furthermore, the company will have the right to compel Osisko to acquire the Additional Royalty in the event Roscan receives a long-term exploitation license on the Property from the Malian government.

Osisko has also been granted a right of first refusal (ROFR) on future royalties and streams related to the Property including in relation to the company’s outstanding buyback rights, should the company decide to sell those rights, and royalties on any future properties acquired or claimed by the company that are contiguous or complementary to the Property.

“We are very happy to welcome Osisko Gold Royalties, a leading royalty and streaming provider, as a strategic partner while we continue to unlock significant value on the very prospective Kandiolé project which is strategically located between two of the largest producing gold mines in Africa,” President and CEO, Nana Sangmuah, said.

“This financial endorsement will help the company accelerate our objectives of further resource growth and advancing project development.”

INFOR Financial Inc. acted as financial advisor and Irwin Lowy, LLP acted as legal advisor to Roscan.

About Roscan

Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold’s Fekola Mine which lies in a contiguous property to the west of Kandiolé), and major gold deposits, located both north and south of its Kandiolé Project in West Mali.

For further information, please visit: https://roscan.ca/

Tags: FinanceGoldMaliPrecious MetalsTSXV:ROSWest Africa
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