Sandstorm Gold Royalties announces sale of select non-core, non-precious metals assets

1 minute read
02 May 2024

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).


NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.