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Artemis Gold Receives Silver Stream Offer from Wheaton Precious Metals for CAD ~$176 Million (US $141 Million) Providing Additional Funding for the Development of Blackwater
Artemis Gold Receives Silver Stream Offer from Wheaton Precious Metals for CAD ~$176 Mill...
About this update from Artemis Gold Inc
[{"type":"text","content":"\n \n \n \n Artemis Gold Receives Silver Stream Offer from Wheaton Precious Metals for CAD ~$176 Million (US $141 Million) Providing Additional Funding for the Development of Blackwater\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n All figures presented in Canadian Dollars, unless specified otherwise\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 16, 2021\n \n /CNW/ - Artemis Gold Inc. (TSXV: ARTG) (\n \n \"Artemis\"\n \n or the\n \n \"Company\"\n \n ) is pleased to announce that it has received a Silver Stream offer to enter into a definitive Precious Metals Purchase Agreement (the \"\n \n Silver\n \n \n Stream Agreement\n \n \") with Wheaton Precious Metals™ Corp. (\"\n \n Wheaton\n \n \"), in respect to the Company's Blackwater Gold Project in\n \n British Columbia\n \n (\"\n \n Blackwater\n \n \" or \"\n \n the Project\n \n \").\n \n \n \n \n \n \n \n \n \n The letter of Offer, as well as a copy of the Silver Stream Agreement (\"\n \n ROFR Offer\n \n \") has been submitted to New Gold Inc. (\"\n \n New Gold\n \n \") as required under the terms of an agreement related to the purchase of Blackwater dated\n \n August 21, 2020\n \n , which serves to formally trigger a Right of First Refusal mechanism under that agreement.  Under this mechanism, New Gold has 30 days from the date of delivery of the ROFR Offer to accept the ROFR Offer and offer identical terms as the Silver Stream Agreement from Wheaton.  In the event the ROFR Offer is not exercised by New Gold, Artemis and Wheaton will be free to execute the Silver Stream Agreement within 120 days. The Silver Stream Agreement will be a subordinated secured obligation of the Company.\n \n \n Under the terms of the Silver Stream Agreement, Wheaton will purchase 50% of the silver production from the mineral reserves of Blackwater until approximately 18 million ounces of silver have been delivered, after which the stream reduces to 33% of the silver production for the life of mine. Wheaton will make an up-front deposit payment ...