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Nomad receives court approval for Sandstorm arrangement

15th August 2022

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The Superior Court of Quebec has issued a final order approving the acquisition of Nomad Royalty Company by Standstorm Gold, clearing the way for the transaction to be effective from Monday.

Upon completion of the arrangement, Nomad is expected to delist its common shares from the TSX, the NYSE and Frankfurt Stock Exchange.

Earlier this month, the shareholders of both companies approved the transaction, which Sandstorm said would add meaningful increases to its near- and long-term production. The acquisition, which implied an equity value of $590-million, would fortify Sandstorm’s focus on gold, silver and copper exposure.

Nomad’s portfolio comprises 22 royalty, stream and other assets, of which eight are producing mines.

Sandstorm this year announced the intended acquisition of Nomad to fortify its focus on gold, silver and copper exposure. The company will buy the issued and outstanding shares of Nomad for an implied equity value of about $590-million.

Through the Nomad acquisition, Sandstorm adds several high-quality and low-cost assets. With several assets in active development, Nomad’s portfolio adds meaningful increases to Sandstorm’s production in both the near and long term.

Edited by Creamer Media Reporter

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