Greenstone Resources subscribes for additional equity and purchased increased royalty from Excelsior Mining

Greenstone Resources LP subscribed, on a private placement basis, for US$10 million of equity of, and purchased an additional 1% gross revenue royalty from, Excelsior Mining Corp for aggregate gross proceeds of US$14 million. Following completion of the subscription, Greenstone holds approximately 50.4% of the issued and outstanding shares of Excelsior and an aggregate 3% gross revenue royalty on Excelsior’s Gunnison Copper Project and Johnson Camp Mine. The net proceeds of the private placement and royalty financing will be used for the continued development of Excelsior’s Gunnison Copper Project. Fasken Martineau advised Greenstone with a team consisting of Al Gourley, Jodi Katz and Vanessa McMinn. The transaction completed in November 2016.