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Orezone Gold Secures $3 Million NSR Royalty from Sandstorm Plus $5 Million Standby Royalty facility
Jan. 27, 2015 06:44AM PST
Gold InvestingOrezone Gold Corporation (TSX:ORE) announced that Sandstorm Gold Ltd. (NYSEMKT:SAND,TSX: SSL) purchased a 0.45% net smelter returns royalty on Bomboré for US$3.0 million. Sandstorm also committed to an additional US$5.0 million Standby Royalty facility for a period of two years.
Orezone Gold Corporation (TSX:ORE) announced that Sandstorm Gold Ltd. (NYSEMKT:SAND,TSX: SSL) purchased a 0.45% net smelter returns royalty on Bomboré for US$3.0 million. Sandstorm also committed to an additional US$5.0 million Standby Royalty facility for a period of two years.
Orezone has the option to buy back 100% of the Upfront Royalty for a period of 36 months at a premium of 5% within six months or thereafter at 10% per annum (non-compounded).
Sandstorm has also committed to provide Orezone an additional US$5.0 million Standby Royalty facility for a period of two years. On similar terms, Orezone can draw down, US$1 million per 0.15% NSR.
Click here to read the Orezone Gold Corporation (TSX:ORE) press release
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