Royal Gold Completes Sandstorm Gold and Horizon Copper Acquisitions to Form a Premier Gold Streaming and Royalty Company

Royal Gold completes acquisitions of Sandstorm Gold and Horizon Copper, adding to its diversified portfolio of precious metal stream and royalty interests. The company issued 18.6 million shares and drew $450 million on its revolving credit facility to repay debt and fund cash consideration. The acquisitions create a premier growth company in the gold streaming and royalty sector with unmatched diversification, development, and exploration optionality.

Royal Gold, Inc. (NASDAQ: RGLD) has completed the acquisitions of Sandstorm Gold Ltd. and Horizon Copper Corp., significantly enhancing its diversified portfolio of precious metal stream and royalty interests. The company issued approximately 18.6 million shares of common stock to Sandstorm shareholders, increasing its outstanding share count to approximately 84.4 million shares. Additionally, Royal Gold drew $450 million from its $1.4 billion revolving credit facility to repay debt and fund the $126 million cash consideration paid to Horizon shareholders (excluding Sandstorm).

The acquisitions align with Royal Gold's strategic goal of acquiring high-quality, long-life precious metals assets in mining-friendly jurisdictions. The combined company now boasts a global portfolio of precious metals interests that is unmatched in terms of diversification, development, and organic growth potential, as well as exploration optionality. Bill Heissenbuttel, President and CEO of Royal Gold, commented, "These acquisitions fit our strategic goal of acquiring high-quality and long-life precious metals assets in mining-friendly jurisdictions, and I believe the addition of the Sandstorm and Horizon interests creates a global portfolio of precious metals interests that is unmatched in terms of diversification, development and organic growth potential, and exploration optionality."

Royal Gold's strong balance sheet and cash flow position it to grow and invest in precious metals. The company is expected to integrate the Sandstorm and Horizon interests into its portfolio over the coming months. Sandstorm and Horizon have ceased trading on their respective exchanges, and Royal Gold is in the process of applying to terminate their public reporting requirements.

The acquisitions come with several forward-looking statements, including the potential for growth, future investments, and the timing for repayment of the company's outstanding borrowings. Factors that could cause actual results to differ materially from these statements include changes in metal prices, operating activities, financial performance of properties, liquidity needs, environmental risks, and other adverse government or court actions.