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Shore Gold Announces Acquisition from Newmont to Consolidate Star?Orion South Diamond Project and Earn?In with Rio Tinto
Shore Gold Announces Acquisition from Newmont to Consolidate Star‑Orion South Diamo...
About this update from Star Diamond Corporation
[{"type":"text","content":"\n\n\n\nShore Gold Announces Acquisition from Newmont to Consolidate Star‑Orion South Diamond Project and Earn‑In with Rio Tinto\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\n\n\n\n\n\n\nCanada NewsWire\nSASKATOON, June 23, 2017\n\n\n\n\n \n \n\nStock Symbol: SGF: TSX\n\n \n \n \n\n \n \n\n\nSASKATOON, June 23, 2017 /CNW/ - Shore Gold Inc. (TSX: SGF) (\"Shore\" or the \"Corporation\") is pleased to announce today that it has acquired (the \"Newmont Acquisition\") from Newmont Canada FN Holdings ULC (\"Newmont Canada\") all of Newmont's participating interest in the Fort à la Corne joint venture (the \"FalC JV\"), resulting in Shore owning 100% of the Star‑Orion South Diamond Project (the \"Project\"), and has concurrently entered into an Option to Joint Venture Agreement (the \"Option Agreement\") with Rio Tinto Exploration Canada Inc. (\"RTEC\") pursuant to which the Corporation has granted RTEC an option to earn up to a 60% interest in the Project on the terms and conditions contained in the Option Agreement.  All dollar figures herein are in Canadian dollars unless otherwise indicated.\n\nIn connection with the Option Agreement, RTEC has also agreed to subscribe for units of the Corporation for an aggregate subscription price of $1,000,000 at a price of $0.18 per unit, with each unit consisting of one common share in the capital of the Corporation and one common share purchase warrant, with each warrant entitling RTEC to acquire one additional common share at a price of $0.205 per share for a period of 24 months following the issuance of the units.\n\n\"We are extremely pleased to partner with Rio Tinto to further develop the potential of the project\" said Ken MacNeill, Chief Executive Officer of Shore.  \"Rio Tinto is one of the few companies in the world with the resources and expertise to move forward with a project of the magnitude of the Star-Orion South Diamond Project.  We are also very pleased to acquire the remaining portion of the project from Newmont and look forward to working with Newmont as a significant shareholder\".\n...