Through the acquisition of Temex, the Company now holds a 60% interest in a joint venture ("JV") with Goldcorp Canada Ltd.
On March 7, 2014 Temex closed a private placement, pursuant to which it received $2,775 by issuing flow through common shares; $252 was recognized as deferred premium on flow through shares at the time of their issuance.
The outstanding Temex stock options, warrants and certain brokers compensation options (the "finder units") were exchanged into 1,055,250 options, 1,324,250 warrants and 157,478 finder units of Lake Shore Gold, at the same exchange ratio of 0.105.
In October 2010, the Company entered into an option and joint venture agreement with Temex allowing the Company to earn a 75% interest in the Croxall property.
In accordance with the provisions of the arrangement agreement dated June 29, 2015 between Temex and Oban (the "Oban Arrangement Agreement"), Temex is required to pay Oban the agreed termination payment of $691,856 (the "Oban Termination Payment").