Is this news or did I miss it in July?
The following is from a Callinan Royalties News Release, dated Nov. 29, 2012:
- As previously announced on July 31, Callinan entered into an agreement with Gold Royalties Corporation whereby Callinan provided C$5.4 million to Gold Royalties Corporation ("GRC") via a convertible debenture. The financing was provided to facilitate in part the purchase by GRC of royalty interests on the Eagle gold project located in the Yukon Territory, Canada. At Callinan's option and at any time before or on the maturity date, Callinan has the right to convert the principal and accrued interest to 60% of the royalty interests or into share units of GRC comprised of 1 common share of GRC at $0.80 and 1 warrant priced at $1.20. The accrued interest will be converted into shares issued at market price.