Osisko Gold completes C$180M silver stream facility with Falco Resources

Date Closed

February 27, 2019

Lead Office

Montréal

Value

180.00 Million CAD

On February 27, 2019, Osisko Gold Royalties Ltd. announced that it has completed its senior secured silver stream facility with Falco Resources Ltd. pursuant to which Osisko will purchase 90% of the refined silver from Falco's Horne 5 project for C$180 million and ongoing payments of a maximum of US$6 per ounce of refined silver. Horne 5 is a development-stage project in Rouyn-Noranda, Quebec with an estimated annual payable gold production of 219,000 ounces at US$399 per gold ounce over a 15 year life of mine.

Headquartered in Montreal, Osisko is an intermediate precious metal royalty company and the largest shareholder of Falco.

Falco is a junior resource exploration company and one of the largest mineral claim holders in Quebec.

McCarthy Tétrault LLP advised Glencore Canada Corporation, as secured creditor, with a team led by Louis-Nicolas Boulanger that included Jocelyn Perreault (Bankruptcy & Restructuring) and Danielle Drolet (Real Property & Planning).

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