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