- Sandstorm Gold Ltd. (SSL) has acquired Nomad Royalty Company Ltd. (NSR)
- Sandstorm issued 74.4 million of its common shares to former Nomad shareholders
- Sandstorm shareholders will own73 per cent of the company’s outstanding shares, and former Nomad shareholders will have 27 per cent
- Nomad Royalty Company Ltd. (NSR) is down 3.26 per cent trading at $9.49 per share as of 11:24 a.m. ET
- Sandstorm Gold Ltd. (SSL) is down 4.03 per cent trading at $7.85 per share as of 11:25 a.m
Sandstorm Gold Ltd. (SSL) has completed its previously announced acquisition of Nomad Royalty Company Ltd. (NSR) via an exchange of common shares.
Sandstorm issued approximately 74.4 million of its common shares to former Nomad shareholders with an exchange ratio of 1.21 Sandstorm shares for each Nomad share.
According to Sandstorm, its shareholders approved the issuance for the acquisition at a meeting last week. The shares are expected to be listed and posted for trading on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE).
With this transaction now closed, current Sandstorm shareholders are expected to have 73 per cent of the company’s outstanding shares, and former Nomad shareholders to hold 27 per cent.
“We began 2022 with a bold vision for Sandstorm and this is the next step in the growth strategy for the company… we continue to grow and build Sandstorm into the go-to precious metals royalty and streaming royalty company,” Nolan Watson, President and CEO of Sandstorm, said.
The company shared it intends to delist Nomad’s shares from the TSX, NYSE, and Frankfurt Stock Exchange. Additionally, Nomad’s warrants will be delisted from the TSX.
Allegedly, an application has been made for Nomad to no longer be a reporting issuer in all the provinces of Canada. An application will also be made for Nomad to terminate its reporting obligations in the U.S.
Nomad Royalty Company Ltd. (NSR) is down 3.26 per cent trading at $9.49 per share as of 11:24 a.m. ET.
Sandstorm Gold Ltd. (SSL) is down 4.03 per cent trading at $7.85 per share as of 11:25 a.m.