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:
- 2 253 961 common shares of Calibre (US$3 million).
- US$1 million in cash payable on or before 11 August 2021.
- 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).