Osisko Gold Royalties Ltd. announced the closing of its previously announced senior-secured silver stream facility with reference to up to 100% of the future silver produced from the Horne 5 property located in Rouyn-Noranda, Québec, from Falco Resources Ltd. Osisko will purchase up to 100% of the refined silver from the project. Osisko will pay Falco staged upfront-cash deposits of up to C$180 million plus ongoing payments equal to 20% of the spot price of silver on the day that refined silver is delivered, to a maximum of US$6 per ounce of refined silver. On closing of the Silver Stream, Osisko has funded the first deposit of C$25 million net of C$23.4 million representing the C$20 million principal amount of loans from Osisko to Falco entered into in May 2016 and September 2018 and accounts payable by Falco to Osisko, resulting in a cash outlay of C$1.6 million to Falco.
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