On February 8, 2022, Sabina Gold & Silver Corp. completed final documentation with Orion Mine Finance and Wheaton Precious Metals Corp. with respect to a construction financing package for an aggregate total of approximately US$520 million. The financing will fund construction and development of the Goose Mine at Sabina’s 100 per cent owned Back River Project in Nunavut, Canada.
Cassels Brock & Blackwell acted for Sabina in respect of the US$225 million senior secured debt facility, the US$75 million gold prepay facility; and the Gold Metal Offtake with Orion Mine Finance (“Orion”) and the US$125 million gold stream arrangement with Wheaton Precious Metals Corp (“WPM”). Blake, Cassels & Graydon acted for Sabina with respect to the issuance of 46,209,769 common shares of Sabina to Orion and 12,322,605 common shares Sabina to WPM for total net proceeds of approximately CAD$75.5 million.
