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.