PZG · Paramount Gold Nevada Corp. · Financials

Effective as of December 27, 2023, Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) and its wholly owned subsidiary Calico Resources USA Corp. (“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”). Pursuant to the Debenture, Sprott has advanced $15,000,0000 to Paramount, which will be used to fund the continued permitting of the proposed Grassy Mountain Gold Mine in eastern Oregon, for general corporate purposes and for the repayment of the Company’s outstanding debt, including its 2019 secured convertible notes and its bridge promissory note in favor of Seabridge Gold Inc.

Issuer evidence: Effective as of December 27, 2023, Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) and its wholly owned subsidiary Calico Resources USA Corp. (“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”). Pursuant to the Debenture, Sprott has advanced $15,000,0000 to Paramount, which will be used to fund the continued permitting of the proposed Grassy Mountain Gold Mine in eastern Oregon, for general corporate purposes and for the repayment of the Company’s outstanding debt, including its 2019 secured convertible notes and its bridge promissory note in favor of Seabridge Gold Inc.

Supporting evidence: The Debenture will carry an interest rate of 10% per annum, which, at Paramount’s discretion, will be payable in cash or shares of its common stock at a 7% discount to the 10-day VWAP from the scheduled date of payment of interest. The Debenture may be repaid in cash or through the issuance of the Royalty (defined below) at the earlier of the commencement of commercial production or five (5) years from the Debenture closing date. The Debenture is convertible into a gross revenue royalty (the “Royalty) of 4.75% of the gold and silver produced from the proposed Grassy Mountain Gold Mine proportionate to the final amount of the funds that have been advanced upon reaching commercial production. If a Royalty is issued, Paramount has the option to buy back 50% of the Royalty by paying either $11.25 million on the second (2^nd^) anniversary of the Royalty or $12.375 million on the third (3^rd^) anniversary.

Supporting evidence: Effective as of December 27, 2023, Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) and its wholly owned subsidiary Calico Resources USA Corp. (“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”). Pursuant to the Debenture, Sprott has advanced $15,000,0000 to Paramount, which will be used to fund the continued permitting of the proposed Grassy Mountain Gold Mine in eastern Oregon, for general corporate purposes and for the repayment of the Company’s outstanding debt, including its 2019 secured convertible notes and its bridge promissory note in favor of Seabridge Gold Inc.

Supporting evidence: Effective as of December 27, 2023, Paramount Gold Nevada Corp. (“Paramount”, “we”, or the “Company”) and its wholly owned subsidiary Calico Resources USA Corp. (“Calico”), entered into a Secured Royalty Convertible Debenture (the “Debenture”) in favor of Sprott Private Resource Streaming and Royalty (US Collector), LP, as agent for itself and certain affiliates (collectively, “Sprott”). Pursuant to the Debenture, Sprott has advanced $15,000,0000 to Paramount, which will be used to fund the continued permitting of the proposed Grassy Mountain Gold Mine in eastern Oregon, for general corporate purposes and for the repayment of the Company’s outstanding debt, including its 2019 secured convertible notes and its bridge promissory note in favor of Seabridge Gold Inc.