March 01, 2021
Torys represented Sprott with a team that included Michael Pickersgill, Braden Jebson and Colby Harris (corporate/mining).
On March 1, 2021, West Vault Mining Inc. (“West Vault”) announced the closing of a gold and silver purchase and sale agreement with Sprott Resource Streaming and Royalty Corp. (“Sprott”) for 1.41% of all refined gold and silver produced from the Hasbrouck Gold Project, located southwest of Tonopah, Nevada, for the life of mine.
Under the terms of the agreement, Sprott paid West Vault an advance purchase deposit of US$6 million, with an additional purchase deposit of US$1 million to be paid within 10 days of the announcement of a Board-approved construction decision for the Hasbrouck Gold Project. Sprott may elect to add the Hill of Gold property to the stream agreement by paying a final purchase deposit of US$300,000 within 60 days of paying the additional deposit.
Further information can be found on Newsfile’s website.
West Vault owns 100% of the permitted Hasbrouck Gold Project, located southwest of Tonopah, Nevada—one of only a few shovel-ready gold projects in the U.S. southwest.
Sprott Resource Streaming and Royalty provides specialized forms of capital to the mining sector on behalf of institutional investors.