10:48 AM EDT, 04/02/2024 (MT Newswires) -- Scottie Resources Corp. ( SCTSF ) entered Tuesday into a financing arrangement to sell a 2.0% gross production royalty to Franco-Nevada ( FNV ) for C$8.1 million. The royalty will apply to all minerals produced on Scottie's claims in the Stewart Mining Camp in the Golden Triangle.

In addition, Franco-Nevada ( FNV ) has agreed to purchase common shares of Scottie, comprising the entire back-end of a C$1.5 million charity flow-through private placement at a price to flow-through subscribers of C$0.275 per FT common share.

President and CEO, Brad Rourke said: "This transaction validates the progress we've made and recognizes the value opportunity present at Scottie. With the funding from Franco-Nevada ( FNV ) and the proceeds raised from our January private placement, Scottie is in a strong financial position for future operations."