Canadian Mining Journal

News

GOLD: Premier enters into $45M arrangement with Orion



THUNDER BAY, Ontario – Premier Gold Mines has entered into a US$45 million financing deal with Orion Mine Finance, and the arrangement can be increased to US$400 million should the appropriate acquisition or development opportunity arise for Premier.

This is a four-point deal where in Orion will first provide a multi-draw senior unsecured term facility for US$30 million. Second, a private equity placement of US$15 million will be made. Subject to good faith negotiation, Orion will thirdly make up to US$400 million available to Orion for expansion, new development of acquisitions by Premier. And fourth, Orion will purchase up to 20,000 oz of refined gold annually from Premier’s existing projects and any projects acquired with funding from Orion.

Details of the financings are available in the May 31, 2016, news release posted at www.PremierGoldMines.com.