Orion to invest in Victoria Gold's $505 mln project financing

Toronto-based mining company Victoria Gold Corp (TSX-V: VIT) has agreed to a $505 million financing package to fund development of its Eagle Gold project in Yukon through to commercial production. The package, which includes credit facilities, equipment financing, royalty financing and a private placement, will be backed by U.S. private equity firm Orion Mine Finance Group, Osisko Gold Royalties Ltd and Caterpillar Financial Services Ltd. Orion's contribution will consist of US$175 million of project finance and subordinated debt facilities and $75 million of equity. First gold pour from the Eagle project is expected in the second half of 2019.

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