11:51 AM EST - Premier Gold Mines Limited : announced the closing of the purchase by its wholly-owned subsidiary, Premier Royalty Corporation from Golden Arrow Resources Corporation, of a 1% net smelter return royalty on gold produced from Yamana Gold Inc.'s Gualcamayo Gold Mine in Argentina. Premier Royalty purchased 100% of the shares of Golden Arrow's wholly-owned subsidiary, which indirectly owns the Royalty, for cash consideration of $16,500,000 and warrants to purchase an aggregate of up to one million shares of Premier Royalty at an exercise price equal to 120% of the price of Premier Royalty's shares in connection with an initial public offering or similar going public transaction. The warrants are exercisable for a period of 24 months from the closing date of the Royalty acquisition. Golden Arrow has the right, on 30 days' prior written notice, to require Premier Royalty to purchase for cancellation all outstanding warrants for a price of $1.25 per warrant prior to their expiry. Premier Gold Mines Limited
shares T.PG are trading unchanged at $5.40.
