- Sandstorm Gold Ltd. SSL SAND has agreed to acquire Nomad Royalty Company Ltd's NSR 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 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.
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