Proceeds from the investment will be used by Regulus for exploration activities at AntaKori. This investment represents second completed by Osisko on the AntaKori project, the first being a strategic partnership between Regulus and Osisko announced on October 1, 2020.
“The continued support of Osisko is a strong endorsement of the AntaKori project. Given that equity markets are currently very challenging, we believe this transaction adds value to shareholders by avoiding equity dilution while providing Regulus with cash to continue to advance work programs at AntaKori,” stated Regulus CEO John Black.
As part of the $5 million investment, Osisko will receive NSR on certain claims ranging from 0.125% to 1.5%, as well as a right to buy back a 1% NSR on the Maria Eugenia, Maria Eugenia No1 and Rita Margot claims for $4.5 million. As per the strategic partnership, Osisko previously held the right to acquire half of the 1% NSR on…
