Paramount Gold secures $15M debenture from Sprott, convertible into 4.75% royalty

Paramount Gold Nevada Corp.

$15M debenture from Sprott at 10% interest; interest payable in cash or stock at 7% discount.
Proceeds used for Grassy Mountain permitting, general corporate, and repaying existing debt including Seabridge bridge note.
Debenture convertible into 4.75% gross revenue royalty on Grassy Mountain gold/silver production.
Paramount can buy back 50% of royalty for $11.25M (2nd year) or $12.375M (3rd year).
Sprott granted ROFR on future mineral interest sales >$60M at Grassy Mountain.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Paramount Gold Nevada Corp. entered into Mining ROFR Option to Purchase Agreement with Sprott Private Resource Streaming and Royalty (US Collector), LP (effective 2023-12-27).

Action: entry
Counterparty: Sprott Private Resource Streaming and Royalty (US Collector), LP
Effective: 2023-12-27

Exact text from the filing

(“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Paramount Gold Nevada Corp. entered into Secured Royalty Convertible Debenture with Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates valued at $15,000,0000 (effective 2023-12-27).

Action: entry
Agreement: notes offering
Counterparty: Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates
Value: $15,000,0000
Effective: 2023-12-27

Exact text from the filing

Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) and its wholly owned subsidiary Calico Resources USA Corp. (“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”).

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623 material agreements filed in the last 30 days. Browse all material agreements →

Paramount Gold Nevada Corp. filing history →

Source: SEC EDGAR

accession 0001193125-24-000827

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