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Calibre completes acquisition of remaining interest from IAMGOLD

Published by
Global Mining Review,

Calibre Mining Corp. has recently announced the closing of the transaction with IAMGOLD Corp. pursuant to which Calibre has acquired IAMGOLD’s 70% interest in the Eastern Borosi Gold-Silver Property located in northeastern Nicaragua.

Consideration for IAMGOLD’s 70% interest in the EBP is payable in the form of:

  1. 2 253 961 common shares of Calibre (US$3 million).
  2. US$1 million in cash payable on or before 11 August 2021.
  3. A 2.0% Net Smelter Return royalty (the NSR Royalty) on future production from the property (Calibre has the right to purchase 1.0% of the NSR Royalty for US$2 million and has a right of first refusal on the remaining 1.0% NSR Royalty).

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