Sandstorm Gold Royalties closes BaseCore portfolio acquisition

On July 12, 2022, Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) announced the closing of the previously announced acquisition of nine royalties and one stream from BaseCore Metals LP. Sandstorm made a payment of US$425 million in cash, partly funded by an upsized credit facility, and issued approximately 13.5 million common shares of the Company to BaseCore.

The royalty package includes a 1.66% net profits interest ("NPI") on the Antamina copper mine in Peru, a 1.0% stream on production from CEZinc in Quebec, a 2.0% net smelter return ("NSR") royalty on the Horne 5 gold project also in Quebec, and a 0.5% NPI on the Highland Valley Copper mine in British Columbia.

Sandstorm is a Canadian company that provides funding to mining companies in exchange for royalties, principally in the form of net smelter returns and streams.

Gowling WLG advised Sandstorm with respect to this acquisition with a team led by Erik Goldsilver and that included Ashley Andaya and Larisa Albu (corporate/M&A), Ian Mitchell and Warren Cass (securities) and Michael Bussmann (tax).