StrikePoint Gold (TSX-V:SKP) has closed a C$190 million ($190.7 million) private placement to fund its acquisition of the Northumberland Gold Project in Nevada, US, from Newmont (ASX:NEM) subsidiaries.
The company issued 95 million subscription receipts at C$2 each through sole underwriter Canaccord Genuity. The proceeds are held in escrow pending completion of the Newmont transaction by 24 October 2026.
Each receipt will convert into one post‑consolidation common share once escrow conditions are met, including regulatory approvals and transaction completion.
Canaccord Genuity receives a 6% commission on gross proceeds, reduced to 3% for sales to the company president’s list, plus broker warrants equal to 6% of subscription receipts issued.
Mining investor Tembo Capital purchased 20.3 million subscription receipts, representing 19.9% of shares once converted. Under an investor rights agreement, Tembo gains the right to nominate one board director and one technical committee representative.
The company has also agreed to sell Tembo a 0.5% net smelter return royalty over Northumberland for US$10 million. StrikePoint can buy back half the royalty for US$25 million ($34.6 million) within five years or 120 days after commercial production begins.
“The proceeds will fund the Newmont acquisition and advance exploration at Northumberland, which will become the company’s flagship project,” President and CEO Michael Allen says.
The placement remains subject to TSX Venture Exchange approval.
StrikePoint Gold is a Canadian explorer advancing a portfolio of Nevada gold projects, including the Hercules and Cuprite projects, alongside its flagship Northumberland acquisition.
Write to JC Villarba at Mining.com.au
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