Aris Mining Sells Juby Gold Project to McFarlane for $22m (1)

(Updates with additonal details.)

Aris Mining sells its Juby Gold Project and related interests in Ontario to McFarlane Lake Mining for a total consideration valued at $22 million.

• Consideration consists of:
  • $10 million in cash, payable on closing
  • Common shares of McFarlane, representing the balance of the consideration payable up to 19.9% of its post-financing share capital, issued at the price of McFarlane’s concurrent equity financing
  • Additional payment, if required to reach $22 million total purchase price, payable in either cash or additional shares at McFarlane’s option
• Deal conditional on McFarlane raising at least $10 million in gross proceeds from ...