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BRIEF-Terraco Gold to exercise spring valley royalties

Published 2016-05-16, 10:29 a/m
© Reuters.  BRIEF-Terraco Gold to exercise spring valley royalties

May 16 (Reuters) - Terraco Gold Corp TEN.V :
* Terraco to exercise spring valley royalties and enters
into $19 mln strategic transaction
* Has entered into definitive agreements with Solidus
Resources LLC, a wholly-owned unit of Waterton Precious Metals
Fund II Cayman LP
* Waterton will buy 100 pct of co's claims, leases, title
and mineral rights proximate to waterton's spring valley gold
project in Nevada
* Waterton to buy 100 pct of co's claims, leases, title and
mineral rights in exchange for $7 million in cash and a 2 pct
NSR on SV proximal assets
* Concurrently with asset purchase, Waterton to subscribe
for senior unsecured convertible debenture in amount of $12
million in TGC Holdings

Source text for Eikon: ID:nMKWWKtpRa
Further company coverage: TEN.V

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