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Foran Mining Corporation Announces Strategic Investments by Fairfax Financial, Agnico Eagle, and Cornerstone Investors, Formal Construction Decision for McIlvenna Bay Project
Foran Mining Corporation has announced strategic investments totaling up to $315 million, including investments from Fairfax Financial Holdings Limited, Agnico Eagle Mines Limited, and other cornerstone investors. The company has also signed a term sheet with a fund managed by Sprott Resource Lending Corp. to expand its existing US$150 million senior secured project credit facility to US$250 million. These investments support the development and future exploration potential of the 100%-owned McIlvenna Bay Project in Saskatchewan.
Company Information
Company
Diversified Royalty
Location
Vancouver, Washington, United States
About
DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors. It also operates the Mr. Lube + Tires franchisor business in Canada.
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