Riley Gold Executes US$20 Million Earn-In Agreement With Kinross Gold on Its PWC Gold Project (Nevada)
Riley Gold Executes US$20 Million Earn-In Agreement With Kinross Gold on Its PWC Gold Project (Nevada)
Private Placement Announced Including Lead Order from Kinross
宣佈的私募配售包括來自Kinross的潛在訂單
Vancouver, British Columbia--(Newsfile Corp. - March 14, 2024) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") is pleased to announce that it has entered into an exploration and venture option agreement (the "Agreement") with Kinross Gold U.S.A., Inc. ("Kinross"), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC), granting Kinross the right to earn up to a 75% interest in Riley Gold's Pipeline West/Clipper Gold Project ("PWC") by spending a minimum of US$20 million. PWC is located in Lander County, Nevada and consists of approximately 24.7 km2 in the heart of the significant gold producing Cortez District (Battle Mountain - Eureka Trend). Kinross will assume operatorship of the project immediately as well as take a strategic 9.9% (on a partially diluted basis) equity interest in the Company through a private placement.
不列顛哥倫比亞省溫哥華--(Newsfile Corp.-2024 年 3 月 14 日)- 萊利黃金公司(多倫多證券交易所股票代碼:RLYG)(場外交易代碼:RLYGF) (”萊利·戈爾德“或者”公司“)很高興地宣佈,它已經簽訂了勘探和風險投資期權協議(”協議“) 與 Kinross Gold U.S., Inc. (”金羅斯“)是金羅斯黃金公司(多倫多證券交易所股票代碼:K)(紐約證券交易所代碼:KGC)的全資子公司,授予金羅斯獲得萊利黃金Pipeline West/Clipper黃金項目高達75%的權益的權利(”普華永道“)至少花費2000萬美元。普華永道位於內華達州蘭德縣,佔地約24.7平方公里,位於重要的黃金產區科爾特斯區(巴特爾山——尤里卡趨勢)的中心地帶。Kinross將立即接管該項目的運營,並通過私募收購公司9.9%的戰略股權(按部分攤薄計算)。
"We are excited to partner with Kinross on our PWC Project. Their global proven track record speaks for itself as well as specific regional expertise that includes ownership and operations of two gold mines in Nevada (Round Mountain and Bald Mountain). Our PWC project is within the Cortez District that has a significant history of gold production and current reserves. PWC adjoins Nevada Gold Mines LLC, a joint venture between Barrick Gold Corp. and Newmont Corporation, that has current production within their Cortez/Pipeline complex. We look forward to significant exploration efforts by Kinross at PWC beginning this Spring," commented Todd Hilditch, CEO of Riley Gold.
“我們很高興能與Kinross合作開展我們的普華永道項目。他們在全球範圍內久經考驗的往績不言自明,以及特定的區域專業知識,包括內華達州兩個金礦(朗德山和巴爾德山)的所有權和運營。我們的普華永道項目位於科爾特斯區,該區有着悠久的黃金生產歷史和當前儲量。普華永道毗鄰內華達金礦有限責任公司,後者是巴里克黃金公司和紐蒙特公司的合資企業,該公司目前在其Cortez/Pipeline綜合大樓內生產。我們期待金羅斯從今年春天開始在普華永道進行重大勘探工作。” 萊利黃金首席執行官託德·希爾迪奇評論道。
Agreement Highlights:
協議亮點:
Reimbursement of Expenditures: Within 60 days, Kinross will reimburse a total of US$104,355 to Riley Gold for 2023/2024 land holding costs.
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First Earn-In Right: Kinross will assume operatorship of the project and can earn an initial 60% interest in PWC (the "Initial Earn-In Option") by incurring a minimum of US$10 million in qualifying work expenditures, subject to upward adjustment in accordance with the Agreement, within five years as follows:
US$1.5 million in guaranteed work expenditures on or before 18 months following execution of the Agreement (the "Effective Date") which shall include a minimum of 2,200 meters of core drilling (within three geographically distinct targets).
An additional US$2.5 million in work expenditures on or before 3rd anniversary of the Effective Date.
An additional US$2.0 million in work expenditures on or before 4th anniversary of the Effective Date.
An additional US$4.0 million in work expenditures on or before 5th anniversary of the Effective Date.
支出報銷: 在60天內,金羅斯將向萊利·戈爾德償還總額爲104,355美元的2023/2024年的土地持有成本。
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第一個賺錢的權利: Kinross將接管該項目的運營,並可以獲得普華永道最初60%的權益(”初始盈利期權“) 在五年內支付至少1,000萬美元的符合條件的工作開支,但須根據協議向上調整,具體如下:
協議執行後18個月或之前的150萬美元有保障的工作開支(”生效日期“)其中應包括至少2,200米的岩心鑽探(在三個不同的地理目標內)。
3當天或之前的額外工作支出爲250萬美元第三方 生效日期週年紀念日。
4 天或之前的額外工作支出爲 200 萬美元第四 生效日期週年紀念日。
5 歲或之前的額外工作支出爲 400 萬美元第四 生效日期週年紀念日。
Second Earn-In Right: Kinross shall have the right to earn an additional 15% interest in PWC (for a total 75% interest) (the "Second Earn-In Option") by incurring a minimum US$10 million in qualifying work expenditures within an additional two-year period following exercise of the Initial Earn-In Option.
Project Technical Committee: A Project Technical Committee to be formed including members of both Riley Gold and Kinross.
Joint Venture: Upon exercise of the Initial Earn-in Option, a Nevada limited liability company (the "LLC") will be formed through which Kinross and Riley Gold will hold their respective interests in PWC. Upon exercise or termination of the Second Earn-in Option, Kinross and Riley Gold will fund the on-going operations of the LLC in accordance with their proportionate interests, subject to standard dilution.
Dilution Provision: Should Riley Gold's interest in the LLC be diluted to 10% or less, the Company's interest will be converted to a 2% net smelter return royalty.
第二輪收益: Kinross有權額外獲得普華永道15%的權益(總額爲75%的利息)(”第二種盈利期權“)在行使初始收入期權後的兩年內,至少支付1,000萬美元的合格工作支出。
項目技術委員會: 將成立一個由萊利·戈德和金羅斯成員組成的項目技術委員會。
合資企業: 行使初始收益期權後,內華達州的一家有限責任公司(”有限責任公司“)將成立,金羅斯和萊利·戈德將通過該成立來持有各自在普華永道的權益。在行使或終止第二期收益期權後,Kinross和Riley Gold將根據其比例權益爲有限責任公司的持續運營提供資金,但須按標準攤薄進行標準攤薄。
稀釋條款:如果將萊利·戈德在有限責任公司的權益稀釋至10%或以下,該公司的利息將轉換爲2%的冶煉廠淨回報特許權使用費。
Private Placement:
私募配售:
The Company also announces a non-brokered private placement of up to 8,000,000 units at C$0.15 per Unit ("Unit") for total gross proceeds of up to C$1,200,000 (the "Private Placement"). Under the Private Placement, Kinross Gold Corporation will subscribe for a 9.9% ownership interest in the Company on a partially diluted basis including share purchase warrants (the "Kinross Investment"). Additionally, Kinross will have the right, until such time as it holds less than a 3.5% interest in Riley Gold, to maintain, on a pro rata basis, its percentage ownership interest in the Company up to a maximum of 19.9% should Riley Gold undertake any future equity offerings.
該公司還宣佈以每單位0.15加元的價格進行高達8,000,000個單位的非經紀私募配售(”單元“)總收益不超過120萬加元(”私募配售“)。根據私募配售,Kinross Gold Corporation將在部分攤薄的基礎上認購該公司9.9%的所有權,包括股票購買權證(”金羅斯投資“)。此外,如果萊利·戈德將來進行任何股票發行,Kinross將有權按比例將其在公司的百分比所有權權益維持在最高19.9%,直到其持有的Riley Gold權益低於3.5%。
Each Kinross Investment Unit will be comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Kinross Warrant"). Each Kinross Warrant will entitle Kinross to purchase for a period of sixty (60) months one additional Share at an exercise price of C$0.25. If, at any time during the Warrant term, Kinross terminates the Agreement, any unexercised Kinross Warrants shall immediately expire and terminate concurrently with the termination of the Agreement.
每個Kinross投資單位將由公司的一股普通股組成(a”分享“) 和一份股票購買權證 (a) “金羅斯 搜查令“)。每份Kinross認股權證將使Kinross有權在六十(60)個月內以0.25加元的行使價額外購買一股股票。如果在認股權證期限內的任何時候,Kinross終止本協議,則任何未行使的Kinross認股權證將立即到期,並在協議終止時同時終止。
The remaining Private Placement Units will be comprised of one Share and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase for a period of twenty-four (24) months one additional Share at an exercise price of C$0.25.
剩餘的私募股權將由一股股票和一份股票購買權證組成 (a “逮捕令“)。每份認股權證將使持有人有權在二十四(24)個月內以0.25加元的行使價額外購買一股股票。
It is expected that certain directors and officers of the Company will participate in the Private Placement and are "related parties" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions of the Canadian Securities Administrators ("MI 61-101"). The participation of certain directors and officers in the Private Placement will constitute a "related party transaction" under MI 61-101. The Company intends to rely upon exemptions from the formal valuation and minority approval requirements of MI 61-101.
預計公司的某些董事和高級管理人員將參與私募配售,並且是多邊文書61-101所指的 “關聯方”- 在特殊交易中保護少數證券持有人 加拿大證券管理局的(”MI 61-101“)。根據MI 61-101,某些董事和高級管理人員參與私募將構成 “關聯方交易”。該公司打算依靠對密歇根州61-101正式估值和少數股權批准要求的豁免。
All securities issued under the Private Placement will be subject to a hold period of four months and one day from the closing date. The Company may pay finders' fees in cash. The Private Placement and finders' fees are subject to regulatory approval.
根據私募發行的所有證券將自截止日起四個月零一天的持有期。公司可能以現金支付發現者費用。私募和發起人費用須經監管部門批准。
Net proceeds of the Private Placement will be used for project exploration and general working capital purposes.
私募的淨收益將用於項目勘探和一般營運資金用途。
About PWC:
關於普華永道:
PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement gold deposits. PWC consists of a land package totaling approximately 24.7 square kms of unpatented mining claims and patented fee lands adjoining Nevada Gold Mines (a joint venture amongst Barrick Gold Corp. and Newmont Mining). PWC is situated along the Cortez Structural Zone of the exceptionally productive Cortez Trend within the Battle Mountain - Eureka Trend in north central Nevada (Figure 1).
普華永道是卡林型、散佈金礦和替代金礦牀的極具前景的勘探地產。普華永道由總面積約24.7平方公里的未專利採礦權和毗鄰內華達金礦(巴里克黃金公司和紐蒙特礦業的合資企業)的專利收費土地組成。普華永道位於內華達州中北部巴特爾山-尤里卡趨勢中生產力異常的科爾特斯趨勢的科爾特斯結構區沿線(圖1)。
About Riley Gold Corp.
關於萊利黃金公司
Riley Gold is an exploration and development company focused in Nevada, USA, with assets that include the Pipeline West/Clipper Project located in the Battle Mountain Eureka Trend (within the Cortez District) and the Tokop Gold Project located within the Walker Lane Trend. Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.
Riley Gold是一家專注於美國內華達州的勘探和開發公司,其資產包括位於巴特爾山尤里卡特倫德(科爾特斯區內)的西部/快船管道項目和位於沃克巷趨勢內的託科普黃金項目。Riley Gold的創始人和領導團隊在採礦生命週期的每個階段(勘探、開發和生產)實現股東價值最大化方面有着良好的記錄。
FOR FURTHER INFORMATION, PLEASE CONTACT:
欲了解更多信息,請聯繫:
Todd Hilditch
託德·希爾迪奇
Chief Executive Officer
首席執行官
Tel: (604) 443-3831
電話:(604) 443-3831
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Cautionary statement regarding forward-looking information
關於前瞻性信息的警示聲明
This press release contains statements which constitute "forward looking information" under applicable Canadian securities laws, including statements regarding the closing of the Agreement, completion of the Private Placement and Kinross Investment, the participation of directors and officers in the Private Placement and the use of proceeds of the Private Placement, as well as plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking information. Although Riley Gold believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Riley Gold can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties and the Company's future business activities may differ materially from those in the forward-looking information as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions and the ability to obtain the requisite approvals of the TSX Venture Exchange, or failure to meet other conditions to closing, to the transactions reflected in this press release. The Agreement, Private Placement, Kinross Investment and other transactions may not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties. Additional information on these and other factors that could affect Riley Gold operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website ()..There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
本新聞稿包含根據適用的加拿大證券法構成 “前瞻性信息” 的聲明,包括有關協議結束、私募和金羅斯投資的完成、董事和高級管理人員參與私募和私募收益的使用以及公司、其董事或高級管理人員對公司未來業務活動的計劃、意圖、信念和當前預期的聲明。“可能”、“將”、“可以”、“將”、“打算”、“計劃”、“預期”、“相信”、“估計”、“期望” 等詞語以及與公司或其管理層相關的類似表述旨在識別此類前瞻性信息。儘管萊利·戈德認爲這些前瞻性陳述中反映的預期是合理的,但不應過分依賴它們,因爲萊利·戈德無法保證這些預期會被證明是正確的。由於前瞻性陳述涉及未來的事件和狀況,就其本質而言,它們涉及固有的風險和不確定性,由於各種因素,包括但不限於市場價格波動、公司運營成功、資本和融資的持續可用性以及總體經濟、市場或業務狀況以及獲得多倫多證券交易所風險交易所必要批准的能力,或者未能滿足其他條件才能成交,適用於本新聞稿中反映的交易。如果未獲得這些批准或不滿足其他成交條件,則協議、私募配售、Kinross投資和其他交易可能根本無法完成。提醒投資者,任何此類前瞻性信息都不能保證未來的業務活動,並涉及風險和不確定性。有關這些因素以及其他可能影響Riley Gold業務和財務業績的因素的更多信息包含在加拿大證券監管機構存檔的報告中,可通過SEDAR+網站()進行訪問。無法保證此類信息會被證明是準確的,因此,建議讀者依靠自己對此類不確定性的評估。除非適用的證券法要求,否則公司不承擔任何更新任何前瞻性信息的義務。
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
本新聞稿不適用於分發給美國新聞專線服務
或用於在美國傳播。任何不遵守此限制的行爲
可能構成對美國證券法的違反。
譯文內容由第三人軟體翻譯。