Ann: Investor Presentation - Pathway to Production, page-22

WR1 has the option to acquire Renard with scrip instead of cash.

Govt ought to know that sending a junior with a big invoice for cash could cripple their white knight, gaining a little and losing a lot.

Just doing a little research into SOQUEM's previous deals...

In 2020, Probe did a 50/50 cash/scrip deal;

In 2023, Gold Royalty Corp bought royalties for 100% scrip;

In 2010, Stornoway bought 50% of the Renard Mine from SOQUEM(!) for scrip and a royalty;

Probably enough examples, the last shows SOQUEM's associated interest in making Renard work.