Sandstorm Gold signs pair of acquisitions worth a total of US$1.1 billion

·1 min read

VANCOUVER — Sandstorm Gold Ltd. says it has signed a pair of acquisitions worth a total of US$1.1 billion.

Under the first deal, the company will buy Nomad Royalty Company Ltd. in an all-stock deal valued at US$590 million.

Nomad shareholders will receive 1.21 Sandstorm shares for each Nomad share held.

The second deal will see Sandstorm acquire a royalty package from BaseCore Metals LP for US$525 million including US$425 million in cash and US$100 million in shares.

Sandstorm also says it has partnered with Royalty North Partners Ltd. to sell a portion of a copper royalty acquired in the BaseCore deal and keep a silver stream on the asset.

The company says once the deals close, existing Sandstorm shareholders will hold 67 per cent of the company, while Nomad shareholders and BaseCore will own about 28 per cent and five per cent respectively.

This report by The Canadian Press was first published May 2, 2022.

Companies in this story: (TSX:SSL, TSX:NSR)

The Canadian Press

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting