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Aquila Resources US$10M Equity Financing and US$55M Gold Stream Transaction with Osisko

Date Closed

November 10, 2017

Lead Office



55.00 Million USD

On November 10, 2017,  Aquila Resources Inc. ("Aquila" or the "Company") closed a financing transaction with Osisko Bermuda Limited ("OBL"), a wholly owned subsidiary of Osisko Gold Royalties Ltd, pursuant to which OBL has agreed to commit approximately US$65 million to Aquila through a US$10 million private placement and US$55 million gold stream purchase agreement.

Aquila Resources Inc.  is a development-stage company with strategic assets in the Great Lakes Region. The company is currently focused on advancing permitting activities for its 100%-owned high grade polymetallic Back Forty Project in Michigan.

McCarthy Tétrault LLP advised Aquila Resources Inc. with a team led by Christopher Langdon that included Jonathan Grant, Michael Eldridge, Claire Gowdy, and Saqib Butt.