Franco-Nevada (FNV) announce that, through a wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A$170 million, approximately $120M, gross royalty from Minerals 260 Limited to support its development of the Bullabulling Gold Project located in Western Australia. Additionally, Franco-Nevada has agreed to subscribe for A$50 million, approximately $35M, of Minerals 260’s ordinary shares. The Royalty acquisition will be in addition to Franco-Nevada’s historical 1.00% gross royalty over certain Project tenements, effectively increasing it to a 2.45% gross royalty over a Bullabulling land package, covering all Mineral Resources, plus an area of interest.
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