Fort Capital Partners is pleased to announce its role as financial advisor to Maple Gold.
Maple Gold Mines Ltd. (TSXV:MGM) (“Maple Gold” or the “Company”) has announced that it has signed a binding term sheet with Agnico Eagle Mines Limited (“Agnico“) that contemplates a 50-50 joint venture (“JV”), and a strategic investment into Maple Gold (collectively, the “Transaction”).
The JV which will combine Maple Gold’s Douay Project and Agnico’s Joutel Project into a consolidated joint property package comes along with an exploration funding commitment of up to C$18 million. The commitment is solely funded by Agnico and will be funded over a four-year term. On formation of the JV, Maple Gold and Agnico will also each be granted a 2% NSR on the property that they contribute to the JV.
Agnico has also agreed to complete a strategic investment into Maple Gold at approximately C$0.24 per unit for gross proceeds of approximately C$6.2M and bring Agnico’s basic share ownership in Maple to 12.8% and partially-diluted ownership to 19.9%.
Fort Capital acted as financial advisor to Maple Gold on the Transaction.
ABOUT MAPLE GOLD
Maple Gold currently controls the 357-square-kilometre Douay Gold Project located within the prolific Abitibi Greenstone Gold Belt in northern Quebec, Canada. The project has an established NI 43-101 gold resource (RPA 2019) of 422,000 ounces in the Indicated category (8.6Mt grading 1.52 g/t Au) and 2.35 million ounces in the Inferred category (71.2Mt grading 1.03 g/t Au) with significant potential for resource expansion and new discoveries. The project benefits from exceptional infrastructure access and the Company is currently focused on carrying out aggressive exploration programs to expand and update the known resource.
ABOUT AGNICO EAGLE
Agnico is a senior Canadian gold mining company that has produced precious metals since 1957. Its operating mines are located in Canada, Finland and Mexico with exploration and development activities in each of these countries as well as in the United States, Sweden and Colombia.