On April 23, the court-appointed Receiver, with the consent of the Yukon government, entered into an exclusivity agreement with Boroo Pte Ltd for the sale of the Eagle Gold Mine and certain related assets.
On July 3, the Receiver confirmed that the exclusivity period would be extended by an additional 90 days to allow Boroo Pte Ltd to continue its due diligence, negotiate the terms of a potential purchase agreement and continue discussions with the Yukon government and the First Nation of Na-cho Nyäk Dun on the key agreements required for the transaction to proceed.
The exclusivity agreement remains an important step in advancing the sale of the Eagle Gold Mine and supporting a successful transaction.
A successful sale of the Eagle Gold Mine and related assets would create an opportunity for the Yukon government to recover the funding advanced through the receivership loan. The maximum loan amount remains unchanged at $220 million.
Further details about the exclusivity agreement can be found on the Receiver’s website.
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The exclusivity agreement included an initial term and an option to extend it for an additional 90 days.
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Regulatory authorizations will be required prior to re-starting the Eagle Gold Mine and affected First Nations and stakeholders will be engaged during those processes.
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Foreign investments in Canada are regulated under the federal Investment Canada Act.
Saskrita Shrestha
Communications, Economic Development, Tourism and Culture
867-332-8076
[email protected]