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| Home : Lake Shore Gold and Franco-Nevada Enter Agreement for $50 Million Royalty and Equity Investment |
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Feb 08
2012 |
Lake Shore Gold and Franco-Nevada Enter Agreement for $50 Million Royalty and Equity Investment |
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TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) - Lake Shore Gold Corp. (TSX:LSG) (NYSE Amex:LSG) ("Lake Shore Gold" or the "Company") today announced that the Company has entered into an agreement (the "Agreement") with Franco-Nevada Corporation (TSX:FNV)(NYSE:FNV) ("Franco-Nevada") through which Franco-Nevada will pay to the Company US$35 million for a 2.25% net smelter return ("NSR") royalty on the sale of minerals from the Company's Timmins West Complex. In addition, Franco-Nevada will pay C$15 million to acquire 10,050,591 common shares of the Company on a private placement basis, with the purchase price per share of C$1.49 representing a 5% premium to the 10-day volume weighted average price. |
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| Source:http://www.marketwire.com/mw/release.do?id=1617524&sourceType=3 |
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