Kerr Mines Inc (KER)

[goldenpolarbear]

« ....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
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 price.

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://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/49739-kerr-mines-announces-us-27-6-million-project-financing-and-makes-positive-production-decision.html