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.

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