Business
Royal Gold to Acquire Sandstorm Gold and Horizon Copper and Reinforce its Position as a Leading North American Gold-Focused Streaming and Royalty Company
Transactions increase Royal Gold’s scale, diversification and potential for organic growth...
About this update from Red Lake Gold Inc
[{"type":"text","content":"Royal Gold to Acquire Sandstorm Gold and Horizon Copper and Reinforce its Position as a Leading North American Gold-Focused Streaming and Royalty Company\n\n\n .bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth40 { width: 40% }\n.bwwidth5 { width: 5% }\n.bwwidth55 { width: 55% }\n.bwwidth60 { width: 60% }\n \n\n\n\n\n\n Transactions increase Royal Gold’s scale, diversification and potential for organic growth, and the strong balance sheet and cash flow of the pro forma company will position Royal Gold to grow and reinvest in precious metals\n \n\n\n\n\n\n\n Royal Gold, Inc. (NASDAQ: RGLD)\n \n (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today its entry into agreements to acquire each of Sandstorm Gold Ltd. (TSX: SSL; NYSE: SAND) (“Sandstorm”) and Horizon Copper Corp. (TSXV: HCU; OTCQB: HNCUF) (“Horizon”). Under the terms of the agreement with Sandstorm, Royal Gold will acquire 100% of the issued share capital of Sandstorm in exchange for Royal Gold shares at an exchange ratio of 0.0625 common shares of Royal Gold for each common share of Sandstorm (the “Sandstorm Transaction”). The exchange ratio implies a premium of 21% based on the 20-day volume-weighted average price (“VWAP”) and 17% based on the closing price of Sandstorm shares on the New York Stock Exchange (“NYSE”) on July 3, 2025, and reflects a transaction equity value of approximately $3.5 billion. Under the terms of the agreement with Horizon, Royal Gold will acquire 100% of the issued share capital of Horizon in exchange for cash of C$2.00/share (the “Horizon Transaction” and together with the Sandstorm Transaction, the “Transactions”). The price per Horizon share implies a pr...