Barkerville's Cariboo project is expected to produce 185,000 ounces of gold over an 11 year life. Courtesy of Barkerville Gold Mines.

Montreal-based Osisko Gold Royalties announced on Sept. 23 that it has struck a deal to purchase in its entirety.

Osisko will acquire all of the issued and outstanding common shares of the Toronto-based Barkerville, which operates the Cariboo Gold project in British Columbia. In addition, Osisko will also provide a $7 million unsecured bridge loan, with the option to increase it to $13 million, to Barkerville to finance future development and exploration of the site.