On September 1, 2021, Orminex Limited announced its acquisition of Nippon Dragon’s interest in the Rocmec 1 and Denain projects for $5 million. The acquisition will include 4,500 ounces of gold to be delivered to Nippon Dragon which will be used by the company to deliver gold to its lenders. Nippon Dragon will also be entitled to a 1% smelter royalty on revenue received from certain aspects of the projects including the Boucher vein. Along with the transaction, Orminex will invest an additional $1.09 million to fund Nippon’s exploration program of the Denain project.
Orminex Limited is an Australian-based natural resources company specializing in the exploration, acquisition and development of gold mining projects.
Nippon Dragon is a Quebec-based exploration company focused on its Rocmec 1, Denain, and Courville-Maruska gold properties.
Osler, Hoskin & Harcourt LLP advised Orminex Limited with a team consisting of Alan Hutchison and Samuel Cantin (Corporate).
Key Contact
Partner, Corporate, Vancouver
Team
Associate, Corporate, Montréal
