Marathon Gold rises on $45 mln royalty sale to Franco-Nevada

Marathon Gold

08/06/2023 15:58

** Canada-based gold producer Marathon Gold Corp's shares
 MOZ.TO  rise 6.7% to 80 Canadian cents
    ** MOZ announces sale of additional 1.5% net smelter returns
(NSR) royalty on its Valentine Gold Project in Newfoundland and
Labrador, Canada to Franco-Nevada Corp  FNV.TO 
    ** The sale, for $45 mln, will result in gold-focused
royalty and streaming firm FNV holding an aggregate 3% NSR on
the project
    ** Additionally, FNV has offered to purchase common shares
of MOZ for C$6.9 mln non-brokered charity flow-through offering
    ** Closing of the offering is anticipated to occur on or
about July 6 - MOZ
    ** MOZ intends to use the proceeds of the offering for
eligible exploration expenditures at its Valentine Gold Project
    ** Co's stock down 25% YTD, accounting for session gains

 (Reporting by Arshreet Singh)
 ((Twitter: https://twitter.com/Arshreets))