To: Goose94 who wrote (319 ) 5/3/2016 10:45:13 AM From: Goose94 Read Replies (1) | Respond to Chalice Gold Mines (CXN-T) to sell Cameron Gold Project to First Mining Finance (FF-V)Symbol: CXN-T Shares outstanding: 282 million Fully diluted: 290 million Subsidiary "), which owns the Cameron Gold Project in Ontario, Canada, to First Mining Finance (FF-V), a mineral property holding company listed on the TSX. Consideration Shares") in First Mining. Chalice will also be granted a one per cent Net Smelter Return royalty over certain exploration licences at Cameron which are not encumbered by pre-existing royalties. Following completion of the Transaction, which is subject to Chalice shareholder approval, Chalice will hold approximately 8.1% of the issued and outstanding shares of First Mining. "Through this transaction, the Company's shareholders would retain exposure to the significant upside of the Cameron Project via its eight per cent shareholding in First Mining, while maintaining a strong cash balance of approximately $37 million to pursue other opportunities." "The sale of the Cameron Project to First Mining allows us to unlock significant value for shareholders. With their unique business model of aggressively acquiring advanced projects in North America and a well-known and proven management team, First Mining is ideally placed to realize the value of this asset in an improving commodity price environment. We look forward to being part of that process through our significant shareholding in First Mining, which provides us with continued exposure to the Cameron Project and exposure to First Mining's portfolio of other assets. "The successful completion of this sale would place Chalice in an enviable position in the current market and will give us a tremendous platform from which to grow the Company and take advantage of new opportunities as they arise."
