REG - SolGold PLC - Completion of Osisko US$50mn Royalty Financing

SolGoldAnnouncement

01/12/2022 07:00

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RNS Number : 1833I  SolGold PLC  01 December 2022

 30 November 2022

SolGold plc

("SolGold" or the "Company")

Completion of Osisko US$50 Million Royalty Financing

 

The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to announce
that SolGold has completed the previously announced US$50 million royalty
financing pursuant to the Royalty Financing Agreement ("Royalty Financing")
with Osisko Gold Royalties Ltd ("Osisko") in relation to the Company's
Cascabel copper-gold project in northern Ecuador.

 

Osisko has been granted a 0.6% royalty interest to be calculated by reference
to net smelter returns from the Cascabel concession area in accordance with
the terms and conditions set out in the Royalty Financing Agreement.

 

Scott Caldwell, Interim CEO of SolGold, commented:

"I would like to sincerely thank Osisko for their unwavering endorsement of
SolGold and the Cascabel Project. World class deposits need many world class
partners in order to achieve their maximum potential, and we are pleased to
add Osisko to our list of supporters. This financing provides the Company with
greater optionality going forward and is an overwhelmingly positive
development for all our stakeholders. SolGold is very well-positioned to
advance strategic project initiatives and accelerate exploration opportunities
that hold the most significant potential to generate shareholder value."

 

Sandeep Singh, President and CEO of Osisko, commented:

"Osisko is extremely pleased to partner with SolGold at this exciting time.
The Cascabel project is one of very few projects of its size and quality at
this stage of development, and we are pleased to be participating in the
Company's future success."

 

Maxit Capital LP is acting as financial advisor to SolGold.

 

This announcement was approved for release by Rufus Gandhi - Company
Secretary.

 

Certain information contained in this announcement would have been deemed
inside information.

 

 

CONTACTS

 Rufus Gandhi

 SolGold Plc (Company Secretary)                                     Tel: +61 (0) 7 3303 0660

 Fawzi Hanano/Lia Abady

 SolGold Plc (Investors/Communication)                               Tel: +44 (0) 20 3823 2130

 investors@solgold.com.au (mailto:investors@solgold.com.au)
 /info@solgold.com.au (mailto:info@solgold.com.au)

 Tavistock (Media)

 Jos Simson/Gareth Tredway                                           Tel: +44 (0) 20 7920 3150

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition
and development of world-class copper and gold deposits and continues to
strive to deliver objectives efficiently and in the interests of shareholders.
SolGold is exploring the length and breadth of the highly prospective and
gold-rich section of the Andean Copper Belt which is currently responsible for
~40% of global mined copper production.

The Company operates with transparency and in accordance with international
best practices. SolGold is committed to delivering value to its shareholders,
while simultaneously providing economic and social benefits to impacted
communities, fostering a healthy and safe workplace, and minimizing the
environmental impact.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange
(LSE/TSX: SOLG).

See www.solgold.com.au (http://www.solgold.com.au) for more information.
Follow us on twitter @SolGold plc

 

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the
"Company") and its Officers may contain certain statements and expressions of
belief, expectation or opinion which are forward looking statements, and which
relate, inter alia, to interpretations of exploration results to date and the
Company's proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for developing the
Project currently being studied as well as the expectations of the Company as
to the forward price of copper. Such forward-looking and interpretative
statements involve known and unknown risks, uncertainties and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or
forward-looking statements; and save as required by the exchange rules of the
TSX and LSE or by applicable laws, the Company does not accept any obligation
to disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to date as the
status of its assets and projects changes with time expenditure, metals prices
and other affecting circumstances.

This release may contain "forward‑looking information" within the meaning of
applicable Canadian securities legislation. Forward‑looking information
includes, but is not limited to, statements regarding the Company's plans for
developing its properties. Generally, forward‑looking information can be
identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved".

Forward‑looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward‑looking
information, including but not limited to: transaction risks; general
business, economic, competitive, political and social uncertainties; future
prices of mineral prices; accidents, labour disputes and shortages and other
risks of the mining industry. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.  There
can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to, risks
relating to the ability of exploration activities (including assay results) to
accurately predict mineralization; errors in management's geological modelling
and/or mine development plan; capital and operating costs varying
significantly from estimates; the preliminary nature of visual assessments;
delays in obtaining or failures to obtain required governmental, environmental
or other required approvals; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets; inflation;
the global economic climate; fluctuations in commodity prices; the ability of
the Company to complete further exploration activities, including drilling;
delays in the development of projects; environmental risks; community and
non-governmental actions; other risks involved in the mineral exploration and
development industry; the ability of the Company to retain its key management
employees and skilled and experienced personnel; and those risks set out in
the Company's public documents filed on SEDAR at www.sedar.com
(http://www.sedar.com) . Accordingly, readers should not place undue reliance
on forward‑looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.

The Company and its officers do not endorse, or reject or otherwise comment on
the conclusions, interpretations or views expressed in press articles or
third-party analysis.

 

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