First Mining closes sale of Cameron project to Seva Mining
Gold developer First Mining has closed its previously announced sale of the Cameron project to TSX-V-listed Seva Mining, which is supported by the Fiore Group.
On closing of the transaction, First Mining received C$5-million cash from Seva and 80-million common shares of Seva representing about 48% of the common shares outstanding. First Mining also has two representatives serving on the board of directors of Seva.
"We are very excited to announce the closing of the transaction and to embark on this partnership with Seva as its largest shareholder and with the Fiore Group as it advances the Cameron project," stated First Mining CEO Dan Wilton.
"Seva is well positioned with a dedicated and experienced team led by the former Premier of Yukon, Ranj Pillai, who has also held a number of economic and resource roles in the Territory including Deputy Premier, Minister of Energy, Mines and Resources, Minister of Economic Development, and Minister of Tourism and Culture. Seva is well funded to advance and unlock value at the Cameron project which will benefit the local and Indigenous communities around the Cameron project."
Fiore is a team of mine explorers, developers and operators led by mining entrepreneurs Frank Giustra and Gordon Keep.
