Stornoway inks $129 mln financing package, Caisse to invest $20 mln
Stornoway Diamond Corp (TSX: SWY), a Montréal-based diamond explorer and developer, has entered into a series of financing deals of up to $129 million. The deals include a loan principal repayment deferral agreement and amendments to a streaming agreement involving Osisko Gold Royalties Ltd, Caisse de dépôt et placement du Québec, Triple Flag Mining Finance, Albion Exploration Fund and Washington State Investment Board. Additionally, the Caisse agreed to invest $20 million in Stornoway, giving it an 11.4 percent interest and board representation, while an IQ affiliate agreed to invest $10 million. Stornoway said the transactions will provide it with financial and operational flexibility.
3 October 2018•8 mins read
