Feb. 23 at 3:51 AM
$FNV Franco-Nevada announces A
$220M financing package with Minerals 260
Franco-Nevada announce that, through a wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A
$170 million, approximately
$120M, gross royalty from Minerals 260 Limited to support its development of the Bullabulling Gold Project located in Western Australia. Additionally, Franco-Nevada has agreed to subscribe for A
$50 million, approximately
$35M, of Minerals 260's ordinary shares. The Royalty acquisition will be in addition to Franco-Nevada's historical 1.00% gross royalty over certain Project tenements, effectively increasing it to a 2.45% gross royalty over a Bullabulling land package, covering all Mineral Resources, plus an area of interest.