Dakota Gold closes investment by Orion Mine Finance for US$6 million

On June 26, 2024, Dakota Gold Corp. ("Dakota Gold") announced an equity and royalty investment of approximately US$6 million by OMF Fund IV SPV A LLC and OMF Fund IV SPV C LLC, entities managed by Orion Mine Finance Management LP (collectively, "Orion").

Orion Equity Investment

Under the terms of the subscription agreement, Orion purchased 2,344,836 shares of common stock of Dakota Gold at a price of US$2.50 per share for aggregate gross proceeds of approximately US$5.9 million.

Closing of the investment was announced on July 2, 2024. Following closing, Orion owns approximately 9.9% of its issued and outstanding shares of Dakota Gold’s common stock.

Royalty Agreement

In addition to the investment, Orion and Dakota Gold entered into a royalty agreement for a 1% net smelter returns royalty over certain of Dakota Gold's properties, for which Dakota Gold received total consideration of approximately US$200,000.

Further information can be found on NewsFile’s website.

Dakota Gold is a South Dakota-based gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. It has high-caliber gold mineral properties covering over 46 thousand acres surrounding the historic Homestake Mine.

Orion Mine Finance Group is one of the world's leading mining-focused private equity businesses.