Nomad Royalty (TSX:NSR) Company Ltd said it has filed a management information circular for its upcoming special meeting of the shareholders, to be held virtually at 11 am ET on August 9.
Shareholders will have the chance to approve the previously announced acquisition of Nomad by Sandstorm Gold Ltd (TSX:SAND) by way of a plan of arrangement under the Canada Business Corporations Act.
Under the terms of the deal, Sandstorm will acquire all outstanding common shares of Nomad for a consideration per Nomad share of 1.21 common shares. The arrangement is expected to close in the fourth quarter of 2022, the company said.
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Nomad’s board of directors found the agreement to be fair to shareholders and voted in favor, noting the unanimous recommendation by the board’s special committee. The reasons for the board's recommendation and some of the key factors it considered in making its determination are described in detail in the circular, the company said.
The circular and other meeting materials are expected to be mailed to shareholders by July 19. They are also available on Nomad’s website.
Nomad is a gold and silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine.
The company owns a portfolio of 22 royalty, stream and gold loan assets, of which eight are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold and silver streams and royalties.
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