As part of the royalty agreement, the Corporation agreed to contribute $150,000 per year for three years, after concluding one or more of SolGold`s local Ecuadorian environmental and social initiatives. SolGold has agreed to match or exceed this annual funding. Under the agreement, Franco-Nevada will acquire Lumina Royalty in exchange for US$60 million of its own common shares and $6 million in warrants. John Seaberg, Executive Chairman of Paramount, commented: “We are pleased to be in a transaction with Franco, the industry leader, in streaming and licensed. The purchase of an NSR from Sleeper offers greater validation of the quality and potential of the assets. We are also pleased that we have not watered down our balance sheet with our shareholders. As we advance our Grassy Mountain and Sleeper projects, we believe this transaction will mark the beginning of an important long-term strategic partnership for Paramount. The ATM program runs until May 28, 2022, unless it is terminated by the Corporation prior to that date. Franco-Nevada intends to use the net proceeds of the ATM program, if any, to finance royalties and acquisitions of flows and/or other general corporate purposes, including debt repayment.
The sale of common shares through the ATM program is pursuant to the terms of a May 11, 2020 share distribution agreement with CIBC Capital Markets, BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., Credit Suisse Securities (Canada), Inc., National Bank Financial Inc., Raymond James Ltd., and CIBC Capital Markets, BMO Capital Markets Corp., RBC Capital Market, SCOTIA Capital LLC (USA) Inc., TD Securities (USA) LLC, BofA Securities, Inc., Canaccord Genuity LLC, Credit Suisse Securities (USA) LLC, National Bank of Canada Financial Inc., Raymond James (USA) Ltd., Barclays Capital Inc., Deutsche Bank Securities Inc., Shareholders are primarily institutional funds in the United States, Canada, Europe and Australia. Management and the Board of Directors are also significant shareholders with approximately $300 million in shares. Chairman Pierre Lassonde was compared to Apple visionary Steve Jobs, who highlighted the royalty business model. It is certain to say that the company is in very capable hands. Winnemucca, Nevada – April 11, 2019 – Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or “the company”) announced today that it has entered into a licensing agreement with the Franco-Nevada Corporation (“Nyse: FNV”) (TSX: FNV) to sell a 2% net margin on its Sleeper Gold (“Sleeper”) property in northern Nevada to sell a product.