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Osisko Gold to buy Stornoway

Osisko Gold Royalties has inked a letter of intent to buy working-capital deficient Stornoway Diamond Corp which filed for and was granted creditor protection by a Quebec court on Monday.

Osisko Gold to buy Stornoway Osisko Gold to buy Stornoway Osisko Gold to buy Stornoway Osisko Gold to buy Stornoway Osisko Gold to buy Stornoway

Stornoway's Renard mine in Quebec will continue production despite its owner being in bankruptcy protection

In partnership with a group of Stornoway's secured lenders, Osisko will form a new corporate entity to acquire and operate Stornoway's flagship Renard diamond mine and assume all debt and liabilities.