Sandbox Royalties closes amended and restated Gold Purchase Agreement with Equinox Gold

On October 31, 2023 Sandbox Royalties Corp. ("Sandbox") together with Regal Resources Royalty Fund ("Regal") closed a US$75 million amended and restated Gold Purchase Agreement ("GPA") with Equinox Gold Corp. ("Equinox Gold"). 

After taking into consideration the syndication of 30% of the GPA to Regal, Sandbox delivered US$52.5 million (70% of a total US$75 million) to Equinox Gold in exchange for monthly deliveries equal to the greater of: (a) 350 gold ounces, and (b) gold ounces equal to 1.26% of the monthly gold production from the Greenstone mine in northern Ontario (on a 100% basis) at a purchase price per ounce of gold equal to 20% of the then prevailing market price.

Gowling WLG advised Sandbox with respect to this transaction with a team that included Erik Goldsilver and Lee Sykes (corporate/mining), Brent Kerr and Anita Yuk (tax), and Sylvia Adriano and Cathy Ridout (real estate).