First Mining Finance and Chalice Gold Mines subsidiary Cameron Gold Operations have entered a definitive share purchase agreement.

Cameron Gold Operations will be acquired for C$13m ($10.36m) through purchasing 32,260,836 common shares of First Mining.

The acquisition will give First Mining Finance the ownership of Cameron Gold Project located in Ontario, Canada.

"First Mining has an option to repurchase 0.5% of the NSR for C$1m."

Under the agreement, First Mining Gold will also offer Chalice Gold Mines a net smelter royalty (NSR) of 1% on certain mining claims within the project, which are not constrained by pre-existing royalties.

However, First Mining has an option to repurchase 0.5% of the NSR for C$1m ($790,000). Chalice Gold Mine will also be offered approximately 8.1% of the issued and outstanding shares of First Mining Finance.

Barkerville Gold Mines has entered a definitive arrangement agreement to acquire Williams Creek Gold for C$3.87m ($3.08m). The deal is expected to close in August, subject to regulatory approvals.

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By GlobalData

Following the transaction, Williams Creek will become a wholly owned subsidiary of Bakerville, and William Creek’s former shareholders will hold approximately 2.27% of the shares of Barkerville on an outstanding basis.