Anglo Pacific Group PLC (LSE:APF,TSX:APY) announced it has a transaction with Laramide Resources Ltd regarding the rate gross revenue royalty on the development stage of uranium properties.
As quoted in the press release:
In return for a facility of CDN$5 million, which is repayable in December 2015, Laramide has granted Anglo Pacific an option to acquire a 5% gross revenue royalty (the “GRR”) for an exercise price of US$15 million. As part of the transaction, Laramide has also issued 650,000 warrants, each warrant entitling Anglo Pacific to acquire one Laramide common share at an exercise price of $1.35 per share on or before December 31, 2015. The CDN$5 million facility bears interest at a rate of 7% per annum payable quarterly in arrears.