Investor Presentaiton
Franco-Nevada - Comprehensive Financing Package
Franco-Nevada providing a $353 million full financing solution including Stream, Debt and Equity
Franco Nevada
O Leading gold-focused royalty
and streaming company globally
O Establishment of long-term
partnership for future financings
and acquisitions
O Alignment with GMIN
shareholders through 9.9%
equity interest
One of Franco-Nevada's largest
gold streams on a primary gold
mine
$250 million
Gold Stream
$75 million
Senior Term Loan
$27.5 million
Equity
12.5% of gold production over the life of mine
Reduction to 7.5% after delivery of 300,000 ounces of gold
Reserve life currently delivers ~229,000 ounces of gold (~75%)
Facility assumes 3-5-year mine life extension using LOM averages
Ongoing payments to GMIN of 20% of the spot gold price at
delivery
O Term: 6.0 years
Availability Period: 3.5 years multi-draw facility at GMIN's discretion
O Interest: SOFR(1) + 5.75% pre-project completion, reducing to SOFR
+4.75% post completion
O 2.0-year holiday with interest and fees accrued and capitalized
O No mandatory hedging, production payments, or offtake required
C$35.8 million investment to align interest with shareholders
44.7 million shares issued at C$0.80
O 11.5 million warrants issued as part of Term Loan with C$1.90 strike
price (2) (138% premium to equity issuance price) and 5-year term
O Pro-Forma Ownership: 9.9% basic | 11.1% fully diluted
(1) Secured Overnight Financing Rate.
(2) Exercise price equals the exercise price of the existing 37.5 million warrants issued as part of GMIN's September 2021 financing, the only currently outstanding warrants.
TSXV:GMIN
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