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Wednesday, July 18, 2018 10:18:17 PM
The highlights of the Agreement are:
• US$27.6 million financing in two tranches, US$19.6 million in August 2018 and US$8 million in July 2019
• The Company will deliver to Pandion a total of approximately 95,000 ounces over a 40 month period. However, no gold shall be deliverable by the Company during the first 22 months.
• Pandion will pay the Company the market price of delivered gold less a specified discount per ounce. In addition, Pandion will participate in a portion of any increase in the price of gold.
• All other production from the Copperstone will be sold at the market
• Additionally, Pandion would have the option to elect at any time to receive common shares of Kerr
Mines Inc., at a price of $0.40 per share, in lieu of delivery of up to 10,000 ounces of gold, subject to
the prior approval of the TSX.
• Kerr will retain the right to buy out and terminate the Agreement at any time... »
https://kerrmines.com/KERR/kerr-mines-announces-us27-6-million-project-financing-and-makes-positive-production-decision.pdf
https://mailchi.mp/26d9eac33c1a/kerr-mines-announces-us276-million-project-financing-and-makes-positive-production-decision
https://kerrmines.com/kerr-mines-announces-us27-6-million-project-financing-and-makes-positive-production-decision/
Read more at http://www.stockhouse.com/companies/bullboard/t.ker/kerr-mines-inc?postid=28336320#dVTmHgA4ic6P347W.99
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