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Waselius & Wist advised Otso Gold and its subsidiary in the securing of USD 11 million financing from Brunswick Gold
Waselius & Wist advised Otso Gold Corp. (TSX.V:OTSO) and its subsidiary (production company) in the securing of USD 11 million financing from Brunswick Gold Ltd. Brunswick Gold Ltd has agreed to purchase 284,944,440 units at an issuance price equal to $0.05 per unit, for aggregate gross proceeds of US$ 11 million. The financing will fully fund the company to enable it to move forward and return the Laiva gold mine in Finland to production in 2021.
Waselius & Wist acted as the Finnish legal counsel of Otso Gold Corp. and its Finnish subsidiary Otso Gold Oy in all aspects of managing the due diligence process, negotiating the agreements, navigating environmental and mining issues with authorities, creditors and other stakeholders.
The Laiva gold mine in Finland is estimated to hold one of the largest gold deposits in the Nordic region.