Northern Star signed an agreement for a private placement of $154 million in a convertible senior unsecured debenture with Osisko Mining Inc., which owns the high-grade Windfall gold project in Quebec, Canada.
The Debenture has a maturity date of December 1, 2025 and bears interest at a rate of 4.75% per annum payable semi-annually in arrears, which may be accrued at the option of Northern Star. In addition, Osisko and Northern Star agreed to negotiate, on an exclusive basis, the terms of an earn-in and joint-venture for Northern Star to acquire up to a 50% interest in Osisko’s Windfall Project..
Fasken advised Northern Star with a team led by Johanna Fipke and Georald Ingborg.
Jurisdiction
- British Columbia
