Premier closes US$45 million financing arrangement with Orion

On May 31, 2016, Premier Gold Mines Limited (Premier) announced a US$45 million financing package with Orion Mine Finance (Orion). The financing is comprised of a US$15 million equity private placement at C$3.05 per common share and a US$30 million term loan facility. In connection with the financing, Orion entered into an offtake agreement with Premier pursuant to which, for a period of 90 months, Orion will have the right to purchase 20,000 ounces of refined gold annually from production derived from Premier's existing projects and from projects developed or acquired from Orion. Further, Orion received 2 million common share purchase warrants, whereby each warrant will be exercisable into one common share of Premier until June 30, 2018 at an exercise price of C$3.97.

Premier announced the closing of the financing arrangement on June 2, 2016.

Premier is a gold-focused exploration and development company with assets located in in Canada and the United States.

Orion is a mining-focused investment business specializing in providing flexible capital investment solutions to mining companies in the base and precious metals sectors.

Further information can be found on Canada Newswire's website.