Nomad Royalty (TSX:NSR) Company Ltd has said that at its special meeting of shareholders held on Tuesday, August 9, 2022, the resolution approving the acquisition of the company by Sandstorm Gold Ltd (TSX:SAND) by way of a plan of arrangement under the Canada Business Corporations Act was overwhelmingly approved.
The company said the approval was by 99.73% of the votes cast by shareholders present in person (virtually) or represented by proxy and entitled to vote at the meeting and by 99.73% of the votes cast by shareholders present in person (virtually) or represented by proxy and entitled to vote at the meeting, excluding the votes cast by certain persons required to be excluded under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
In addition to the approval of the arrangement by Nomad shareholders, Sandstorm shareholders approved the proposed share issuance in connection with the arrangement at a special meeting of Sandstorm shareholders also held on Tuesday.
READ: Nomad Royalty Company agrees to be acquired by Sandstorm Gold in C$755M all-stock transaction
The company also said it has received the South African Competition approval and has therefore now received all regulatory approvals required to complete the arrangement.
The closing of the arrangement remains subject to final approval by the Superior Court of Quebec, for which the hearing is scheduled to take place on August 12, 2022. Subject to court approval being obtained and the other conditions to closing being satisfied or waived, the arrangement is expected to be effective on or about August 15, 2022.
Following completion of the arrangement, the company expects to delist its common shares from the Toronto Stock Exchange (TSX), New York Stock Exchange and Frankfurt Stock Exchange and to delist its listed warrants from the TSX.
The company has also applied to the Canadian securities regulators for it to cease to be a reporting issuer in the applicable jurisdictions following completion of the arrangement.
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