On September 11, 2020, SolGold plc, a leading mining exploration company focused on the discovery and development of world-class copper and gold deposits, completed a US$100 million 1% net smelter returns ("NSR") secured royalty financing with Franco-Nevada Corporation relating to SolGold’s Alpala copper-gold project in Ecuador. Between the signing of the NSR Financing Agreement in May 2020 until its completion, Franco-Nevada provided SolGold with interim financing under a US$15 million Bridge Loan Agreement that was repaid out of the proceeds of the royalty financing upon completion. SolGold has the option to upsize the royalty by US$50 million to a 1.5% NSR royalty interest by early January 2021.
Fasken advised SolGold with a team led by Nancy Eastman and Brian Graves (Corporate/Mining) which also included John Torrey (Banking), Chris Steeves (Tax) and Laura Konkel (Corporate/Mining).
Fasken advised SolGold with a team led by Nancy Eastman and Brian Graves (Corporate/Mining) which also included John Torrey (Banking), Chris Steeves (Tax) and Laura Konkel (Corporate/Mining).
