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Early Warning Report Filed Pursuant to National Instrument 62-103
Early Warning Report Filed Pursuant to National Instrument 62-103 Canada NewsWire ...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nEarly Warning Report Filed Pursuant to National Instrument 62-103\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 11, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSX: WPMNYSE: WPM\n\n\n\nVANCOUVER, Dec. 11, 2017 /CNW/ - Wheaton Precious Metals Corp. (\"Wheaton\" or the \"Company\"), announced today that it acquired 6,153,846 subscription receipts (the \"Subscription Receipts\") of Desert Star Holdings Corp., a wholly owned subsidiary of Desert Star Resources Ltd. (\"Desert Star\"), at a price of C$0.65 per Subscription Receipt, for total consideration of C$3,999,999.90 (the \"Subscription Amount\"), pursuant to a private placement offering of 22,498,807 Subscription Receipts (the \"Private Placement\"). \n\nThe Subscription Receipts will automatically convert upon satisfaction of certain escrow release conditions (the \"Escrow Release Conditions\"). The Escrow Release Conditions include, but are not limited to: (i) the completion of all conditions precedent to the acquisition by Desert Star of the Kutcho Project in northwest British Columbia, Canada (the \"Kutcho Project\") from Capstone Mining Corp. (the \"Kutcho Acquisition\"), (ii) Desert Star entering into a subordinated secured convertible term debt loan agreement (the \"Convertible Note\") with Wheaton, as lender, in the initial principal amount of C$20,000,000 (the principal amount outstanding from time to time, the \"Principal Amount\"), and (iii) Desert Star and Wheaton entering into a definitive Early Deposit Precious Metals Purchase Agreement (\"PMPA\") under which Wheaton will, among other things, pay Desert Star over time cash consideration totaling US$65 million for up to 100% of the payable silver production and up to 100% of the payable gold production from the Kutcho Project. \n\nPrior to the completion of the Private Placement, Wheaton held no securities of Desert Star. Immediately following the Private Placement, Wheaton acquir...