RE:RE:News - Receiving C$84.75 Million in PPNews Release - January 11, 2018
Orion [IMHO Osisko - Orion] has appointed their director.
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Michael Barton joins Dalradian's Board of Directors
- https://s1.q4cdn.com/162468244/files/doc_news/180111_Barton_Appointment_FINAL.pdf -
I consider this an extension of the October 10 News Release:
Dalradian to receive C$84.75 million through Private Placement and Warrant Exercise -
“Upon closing of the Private Placement, Orion will own approximately 9.75% of Dalradian's issued and outstanding common shares and Osisko will own approximately 9.1% of Dalradian's issued and outstanding common shares, in each case after giving effect to the warrant exercise by Osisko.” -
Osisko Gold Royalties and Orion Mining Finance are closely related companies.
Osisko has purchased the Orion Mining royalty stream recently.
So for our purpose, we could look upon Osisko-Orion as one company.
Osisko-Orion now owns 19% of the Dalradian Shares.
Typically, this would give them a seat on the board of directors, thus the appointment.
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As Louis James commented back in October 10:
“It’s also good to see such high-level support for the project, as it is a strong show of support from savvy industry insiders. . . .All things considered this story is materially better now, . . . .” -
RJ
By the way, Dalradian holds the 5th largest position in my portfolio.
Osisko Gold Royalties Ltd [T.OR] holds the 6th.
So I have an interest on both fronts.