Post by
patchh on Sep 07, 2021 7:30am
NGM/I-80 to Create Nevada Mining Complex
Snippets
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210907:nCNWRdKMLa&default-theme=true
The Company has also entered into an acquisition agreement to acquire the Ruby Hill Mine from affiliates of Waterton Global Resource Management("Waterton"). Additionally, i-80 has entered into a private placement commitment with NGM whereby, conditional on the asset exchange transaction being completed[1], NGM will acquire from i-80 up to 9.9% interest in new i-80 treasury common shares for aggregate proceeds not to exceed $50 million, and a non-binding term sheet with Orion Mine Finance ("Orion") for up to $240 million in acquisition and development financing. Equinox Gold Corp ("Equinox") has also indicated that it will participate in the equity private placement through the exercise of a portion of its anti-dilute rights.
Additionally, i-80 has entered into a private placement commitment with NGM whereby, conditional on the asset exchange transaction being completed[1], NGM will acquire from i-80 up to 9.9% interest in new i-80 treasury common shares for aggregate proceeds not to exceed $50 million, and a non-binding term sheet with Orion Mine Finance ("Orion") for up to $240 million in acquisition and development financing. Equinox Gold Corp ("Equinox")