DBT Bureau
Pune, 5 Oct 2025
Royal Gold, Inc. announced that it has now received all governmental regulatory approvals required for the Company’s previously announced acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp.
With respect to the Sandstorm Transaction, required approvals have been obtained under the Investment Canada Act, the Canadian Competition Act and the South African Competition Act. With respect to the Horizon Transaction, required approval has been obtained under the Canadian Competition Act. There are no further governmental regulatory approvals required for either Transaction.
All holders of record of Royal Gold common stock as of the close of business on Friday, August 29, 2025, are entitled to vote their shares at the special meeting of stockholders to approve the issuance of shares of Royal Gold common stock in connection with the Sandstorm Transaction. The Special Meeting is scheduled to take place on Thursday, October 9, 2025. The Royal Gold Board of Directors unanimously recommends that Royal Gold stockholders vote “FOR” the proposals as described in detail in the definitive proxy statement. Leading proxy advisory firms, including Institutional Shareholder Services Inc., have recommended that Royal Gold stockholders vote “FOR” the proposals related to the Sandstorm Transaction.
Sandstorm is scheduled to hold a shareholder meeting on October 9, 2025 to seek approval of the Sandstorm Transaction. The Board of Directors of Sandstorm unanimously (with a director having a disclosable interest abstaining from voting) recommends that Sandstorm shareholders vote “FOR” the special resolution approving the proposed arrangement with Royal Gold, and Sandstorm has reported that ISS and other similar advisory firms recommend that Sandstorm shareholders vote “FOR” the special resolution approving the Sandstorm Transaction.
The completion of the Sandstorm Transaction is subject to customary closing conditions, including, without limitation, the approvals by Royal Gold’s stockholders and Sandstorm’s shareholders described above, the approval of the Supreme Court of British Columbia, certain conditions to the completion of the Horizon Transaction having been satisfied or waived by Royal Gold, and the listing of shares of Royal Gold’s stock to be issued in the Transaction on Nasdaq. Subject to the satisfaction or waiver of the closing conditions, it is anticipated that the Sandstorm Transaction will close early in the fourth quarter of 2025.
Horizon is scheduled to hold a meeting of its securityholders on October 9, 2025 to seek approval of the Horizon Transaction. The Board of Directors of Horizon unanimously (with two directors having disclosable interests abstaining from voting) recommends that Horizon securityholders vote “FOR” the special resolutions approving the proposed arrangement with Royal Gold, and Horizon has reported that ISS and other similar advisory firms recommended that Horizon securityholders vote “FOR” the special resolution approving the Horizon Transaction.
The completion of the Horizon Transaction is subject to customary closing conditions, including, without limitation, the approvals by Horizon’s securityholders described above and the approval of the Supreme Court of British Columbia. Subject to the satisfaction or waiver of the closing conditions, it is anticipated that the Horizon Transaction will close early in the fourth quarter of 2025.
