{"id":1153218,"date":"2019-12-03T14:21:08","date_gmt":"2019-12-03T20:21:08","guid":{"rendered":"https:\/\/www.mining.com\/?p=1008314"},"modified":"2019-12-03T14:21:08","modified_gmt":"2019-12-03T20:21:08","slug":"osisko-metals-sells-1-5-nsr-royalty-on-pine-point","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1153218","title":{"rendered":"Osisko Metals sells 1.5% NSR royalty on Pine Point"},"content":{"rendered":"<p>Osisko Metals announced that it has entered into an agreement with Osisko Gold Royalties to sell a 1.5% net smelter return royalty on the Pine Point project for C$6.5 million.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>On October 15, Osisko Metals announced that it has entered into an agreement with Karst Investments to acquire an outstanding 3% NSR royalty on the project for $8.5 million and 2 million shares.<\/p>\n<p>The company will grant Osisko Royalties a right of first offer on any future sales of royalties, streams or interests on Pine Point as well as a senior secured interest and first priority mortgage on the project as security.<\/p>\n<p>Osisko Metals is also placing C$7 million of its units, consisting of one share and one quarter of a warrant, with Osisko Gold Royalties through a non-brokered private placement.<\/p>\n<p>Osisko Gold Royalties will be granted the right to maintain its relative equity holding through participation in future offerings as long as it maintains a 5% interest in Osisko Metals.<\/p>\n<p>Proceeds will be used for exploration, to fund the Karst royalty purchase as well as for corporate purposes.<\/p>\n<p>Osisko Gold Royalties currently holds a 10.5% interest in Osisko Metals, expected to increase to 19.8% on a fully diluted basis following closing.<\/p>\n<p>Osisko Metals is advancing the Pine Point zinc-lead project in the Northwest Territories and zinc-lead-copper-silver projects in the Bathurst mining camp in New Brunswick.<\/p>\n<p><em>(This article first appeared in the <\/em><a aria-label=\"Canadian Mining Journal (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"http:\/\/www.canadianminingjournal.com\/\" ><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will grant Osisko Royalties a right of first offer on any future sales of royalties, streams or interests on Pine Point.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153218"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1153218"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153218\/revisions"}],"predecessor-version":[{"id":1153219,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1153218\/revisions\/1153219"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1153218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1153218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1153218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}