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BRIEF-Strongbow enters C$8.5M royalty sale and equity financing agreement

Published 2017-08-30, 07:48 a/m
© Reuters. BRIEF-Strongbow enters C$8.5M royalty sale and equity financing agreement
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Aug 30 (Reuters) - Strongbow Exploration Inc SBW.V

* Strongbow enters into C$8.5m royalty sale and equity financing agreement with Osisko Gold Royalties

* Strongbow Exploration Inc - Osisko intends to purchase 9.5 million common shares at a total cost of $1.33 million

* Strongbow Exploration Inc - has agreed to sell a 1.5% net smelter returns royalty to Osisko Gold Royalties Ltd

* Strongbow Exploration Inc - proceeds will be used, subject to receipt of permits, to construct a water treatment plant at South Crofty

* Strongbow Exploration - intends to complete non-brokered private placement of common shares at $0.14 per share for gross proceeds of up to $2.0 million

* Strongbow Exploration Inc - royalty sale on all metals and minerals produced from South Crofty tin project in Cornwall, UK, for $7.17 million

* Strongbow Exploration Inc - to complete a non-brokered private placement of common shares at $0.14 per share for gross proceeds of up to $2.0 million

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