The investment, made at C$5.50 per share, a 13% premium, is part of a broader US$400 million private placement.
Orion Mine Finance Group will invest $100 million and the Lundin Family Trusts will invest $50 million.
The funds will be used to advance the development of the $669 million Fruta del Norte gold project in Ecuador.
The bulk of the funding is via a $400-450 million financing package from Orion and Blackstone Tactical Opportunities.
Newcrest will emerge as Lundin’s largest shareholder with a 27.1% stake and will have the right to appoint two directors to the board and one nominee to the project advisory committee.
Lundin Family Trusts will ...