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Aggregate|Exploration|Gold|Mining
Aggregate|Exploration|Gold|Mining
aggregate|exploration|gold|mining

Orion invests in Dakota Gold

28th June 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Entities managed by Orion Mine Finance Management have invested $6-million in exploration and development company Dakota Gold.

Orion’s ownership of Dakota, together with its prior investment from 2023, will increase to a 9.9% share ownership, reported Dakota president, CEO and director Jonathan Awde.

“Orion is a respected investor and lender in the mining industry and we value their support,” he commented.

Orion has agreed to purchase 2 344 836 shares of common stock of Dakota Gold at $2.50 a share for aggregate gross proceeds of $5.9-million. Orion is considering making a further equity investment, increasing the total aggregate gross equity proceeds to the company to $8.8-million subject to market and other conditions.

In addition, Orion and the company will enter into a royalty agreement for a 1% net smelter return royalty over certain properties. Dakota Gold will receive total consideration of $182 758.20 for the royalty.

Dakota is aiming to revitalise the Homestake district in Lead, South Dakota.   

Edited by Creamer Media Reporter

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