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Osisko Gold boosts stake in NioGold Mining

Michael Allan McCrae | August 31, 2014 | 3:19 am Precious Metals Canada Gold 

Osisko Gold (TSE:OSK) increased its ownership of NioGold Mining (TSX-V:NOX) to 19.5% on Friday after announcing $4.9 million financing.

Osisko acquired 14 million flow-through common shares of NioGold price at 35 cents per share.

In addition, Osisko has acquired, for an aggregate purchase price $150,000, NioGold’s rights to repurchase a portion of the royalties on certain of NioGold’s claims.

NioGold also announces that Sean Roosen and John Burzynski have joined the Board of Directors of NioGold.

NioGold Mining Corporation is a mineral exploration company focused on gold. The company’s flagship projects are located in the Cadillac – Malartic – Val-d’Or region of the prolific Abitibi gold mining district, Quebec.

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