Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Sandstorm Gold Agrees To Acquire Nomad Royalty For C$755M

  • Sandstorm Gold Ltd. (TSX:SSL) (NYSE:SAND) has agreed to acquire Nomad Royalty Company Ltd's (TSX:NSR) (NYSE:NSR) issued and outstanding shares in an all-share transaction valued at C$755 million.
  • The consideration implies a value of ~C$11.57 per Nomad share based on the closing price of the Sandstorm shares on TSX on April 29, 2022, and represents a premium of 21% at the same date.
  • Shareholders of Nomad will receive 1.21 common shares of Sandstorm for each share held.
  • Nomad shareholders will hold 28% of Sandstorm at the transaction's closing. The transaction is expected to close in the second half of 2022.
  • Sandstorm has also agreed to acquire nine royalties and one stream from BaseCore Metals LP for total consideration of C$525 million, consisting of C$425 million cash and C$100 million Sandstorm Shares.
  • BaseCore is an entity equally owned by affiliates of Glencore Plc (OTC:GLNCY) and Ontario Teachers' Pension Plan.
  • Price Action: SSL shares closed lower by 7.22% at C$8.87, and NSR higher by 6.88% at C$10.25 on TSX. SAND closed lower by 6.7% at $6.91 and NSR higher by 6.67% at $8.00 on NYSE on Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.