Aquila Resources US$10M Equity Financing and US$55M Gold Stream Transaction with Osisko
November 10, 2017
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.