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Sandstorm Gold Royalties announces sale of select non-core, non-precious metals assets
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On May 2, 2024, Sandstorm Gold Ltd. ("Sandstorm") announced that it had signed a definitive asset purchase agreement with Evolve Strategic Element Royalties Ltd. ("Evolve") to sell eight non-core, non-precious metals royalties to Evolve for cash proceeds of US$21 million plus the retention of the next US$10 million in proceeds from a 2.5–5.0% net smelter returns royalty on the North Pit at the Copper Mountain mine in British Columbia.
The transaction is part of Sandstorm's previously announced plan to monetize certain non-core assets to expedite debt repayment. Upon completion of the transaction, Sandstorm will have sold over US$50 million of non-core royalty and equity investments since the third quarter of 2023, including approximately US$40 million in cash consideration.
Gowling WLG advised Sandstorm with respect to this transaction with a team that included Erik Goldsilver and Lee Sykes (corporate, mining) and Michael Bussmann (tax).
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