leadf
logo-loader
viewOrogen Royalties Inc.

Renaissance Gold and Evrim Resources finalize merger to create Orogen Royalties

The firm’s key assets include a 2% NSR royalty on the Ermitaño West gold-silver deposit in Sonora and a 1% NSR on the Silicon gold project in Nevada

Renaissance Gold, Inc. -
Orogen shares are expected to start trading on the TSX Venture Exchange on August 20

Renaissance Gold Inc (CVE:REN) (OTCQB:RNSGF) and Evrim Resources Corp (CVE:EVM) have finalized their merger to create a new royalty firm with precious metals assets in Mexico and Nevada.

The newly-formed company will be known as Orogen Royalties Inc and trade on the TSX Venture Exchange under the symbol OGN.

In a statement, Orogen told shareholders that its mission is to create and acquire precious metal royalties through its prospect generator model and established network in the mining industry.

READ: Renaissance Gold gets green light from shareholders for merger with Evrim

The firm’s key assets include a 2% net smelter return (NSR) royalty on the Ermitaño West gold-silver deposit in Sonora, Mexico, where production by First Majestic Silver is expected to start in 2021, and a 1% NSR on the Silicon gold project in Nevada, which is being advanced by AngloGold Ashanti.

Under the term sheet, each Renaissance share was exchanged for 1.2448 Evrim shares, which results in Renaissance and Evrim shareholders each holding 50% of the issued and outstanding shares of Orogen. In addition, each Renaissance warrant and option will become exercisable for Orogen common shares, as adjusted in accordance with the exchange ratio.

Renaissance director (and former CEO) Robert Felder and director Tim Janke have joined Orogen’s board, while Paddy Nicol and John Thompson resigned as directors. Paddy Nicol will take the reins as CEO of Orogen while Robert Felder will join as senior vice president.

Orogen shares are expected to start trading on the TSX Venture Exchange on August 20.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Orogen Royalties Inc.

Price: 0.325 CAD

TSX-V:OGN
Market: TSX-V
Market Cap: $56.35 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Orogen Royalties Inc. named herein, including the promotion by the Company of Orogen Royalties Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Orogen Royalties strong management team puts together impressive group of...

Orogen Royalties (CVE: OGN) CEO Paddy Nicol joined Steve Darling from Proactive to share news about the royalty company that actually is a couple of companies rolled into one as they bring exploration and transactional expertise from Evrim Resources and Renaissance Gold. Nicol talks about the...

on 8/10/20

2 min read