LONDON, Nov. 30,
2022 /CNW/ - The Board of Directors of SolGold (LSE:
SOLG) (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.
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 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.
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.
SOURCE SolGold