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Spanish Mountain Gold Closed First Tranche Of Royalty Financing And Receipt Of US$22.5M

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Spanish Mountain Gold (SPA.V) closed the first tranche of its previously announced royalty sale to Wheaton Precious Metals Corp. (WPM.TO, WPM), the company said over the weekend.

As part of the first tranche closing, the company received US $22.5 million from Wheaton. A further US$32.5 million is available to the company under the terms of the Royalty Financing following the satisfaction of certain conditions precedent, it added.

Shares in SPA were up 5% and nearer to 52 week highs in Canada last Friday.

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