Franco-Nevada Expands Bullabulling Support With A$200 Mln Royalty And Equity Investment

(RTTNews) - Franco-Nevada Corp. (FNV, FNV.TO) announced that, through its wholly-owned Australian subsidiary, it has entered into an agreement to acquire a A$170 million or approximately US$122 million gross royalty from Minerals 260 Limited. The transaction is designed to further support the development of the Bullabulling Gold Project. In addition, Franco-Nevada has agreed to subscribe for A$30 million or approximately US$22 million of Minerals 260's ordinary shares as a lead order in a future equity raise. The new royalty acquisition builds upon Franco-Nevada's existing 2.45% gross royalty interest in Bullabulling, increasing its interest to 3.90% and expanding both the area of interest and the royalty profile.