Under the terms of the taketake agreement, Pretium had the option of reducing its taketake commitment to 25% on December 31, 2019, in exchange for a payment of $13 per ounce of refined gold for 75% of the refined gold ounce to be delivered under the agreement. As part of the offtake agreement, Pretium had the opportunity, on December 31, 2019, to repurchase up to 75% of OBL`s ANTEIL from the purchaser of Brucejack gold by making a payment of $13 per ounce of remaining gold under the contract. The September 15, 2015 offtake agreement was concluded by Pretivm as part of the financing plan for the construction of the Brucejack mine. The offtake agreement applied to sales of the first 7,067,000 ounces of refined gold that were to be sold at a market-based price based on a reference price of gold in US dollars per ounce for a set price period before and after the date of each sale. Under the terms of the offtake agreement, Pretivm was given the opportunity to reduce its taketake commitment to 25% on December 31, 2019, in exchange for a payment of $13 per ounce of refined gold for 75% of the refined gold ounces to be delivered under the agreement. Under the terms of the Taketake Repurchase contract, Pretivm will abolish 100% of the taketake commitment. “Brucejack`s robust cash flow allowed us to quickly settle the construction finance package. In 2018, the first year after commercial production began, we repurchased 100% of the precious metals flow for $237 million, and refinanced the construction credit facility with a bank debt facility of $480 million. Now we are buying back 100% of the taketake contract for about $80 million. By cleaning up the construction finance package, we are committed to settling the bank debt facility as quickly as possible,” said Joseph Ovsenek, President and CEO of Pretivm.

Osisko Gold Royalties Ltd is an intermediate precious metals licensee company with a North American portfolio of more than 135 royalties, flows and precious metals customers. Osisko`s portfolio is anchored in Canada`s Malartic Mine, Canada`s largest gold mine, with 5% royalties on RSS. Osisko also holds a portfolio of publicly traded commodities companies, including a 32.6% interest in Barkerville Gold Mines Ltd., a 16.4% interest in Osisko Mining Inc. and a 19.9% interest in Falco Resources Ltd. Under the new agreement, the Pretium acquisition agreement expires on September 30, 2019. In return, Pretium Triple Flag mining Finance Bermuda Ltd. and Osisko Bermuda Ltd. will pay.