Dalradian raising almost C$85 million from new strategic investors

October 10: Dalradian Resources (TSX:DNA; AIM:DALR) is raising C$84.75 million (approximately £51 million) from two new strategic investors – Orion Mine Finance II LP and Osisko Gold Royalties Ltd.

Orion will make an investment of C$50 million to acquire 34.0 million shares at a price of C$1.47/share and Osisko will make an investment of C$28.25 million to acquire 19.2 million shares at the same price in terms of a non-brokered private placement, which is expected to by close 30 November 2017.

In addition, Osisko plans to exercise 6.25 million warrants immediately at a price of C$1.04/warrant, for receipts to Dalradian of C$6.5 million.

Upon closing of the placement, Orion’s and Osisko’s respective interests in the company will be 9.75% and 9.1%.

The company has stated that it intends to use the proceeds for general working capital purposes.

The new World Gold Analyst will soon be live and subscribers will be able to see how this news affects the company and how it impacts on its valuation