Orion Mine Finance to invest $12.4 mln in Royal Nickel
Canadian mineral resource company Royal Nickel Corp (TSX: RNX) has agreed to receive $12.4 million from Orion Mine Finance, a private equity firm with offices in New York and other locations. In exchange for the funding, Orion will obtain a 0.75 percent net smelter return royalty in the Dumont Nickel Project, which is located in the Abitibi mining camp near Amos, Québec, as well as 10 million of Royal Nickel's common shares. The company will have the right to repurchase 50 percent of the royalty for US$15 million on the third, fourth or fifth anniversary of closing. Royal Nickel has its headquarters in Toronto.
30 June 2015•4 mins read
