The TSX Venture Exchange has accepted for filing documentation relating to a royalty purchase agreement and a royalty agreement dated April 1, 2020, between Osisko Gold Royalties Ltd. and Minera Alamos Inc. Pursuant to the agreements, the company shall sell to Osisko a 3-per-cent net smelter return royalty on the Santana property, located in Sonora, Mexico, for a cash payment of $5-million. Pursuant to the agreements, the company has an option to draw down up to a further $3-million in three equal instalments of $1-million each at any time within 12 months of the closing. For each $1-million of the optional royalty, the company will grant to Osisko an additional net smelter return royalty of two-thirds of 1 per cent up to an aggregate of 2 per cent if the entire optional royalty is drawn.
For more information, refer to the company's news releases dated Dec. 6, 2019, Feb. 26, 2020, and April 3, 2020.
© 2020 Canjex Publishing Ltd. All rights reserved.