On March 23, 2015, Sandstorm Gold Ltd. acquired from IAMGOLD Corporation, a 1 per cent gross proceeds royalty (the “Royalty”) over a property in Lac de Gras in the Northwest Territories, including a property constituting the Diavik Diamond Mine operated by Rio Tinto plc.
Sandstorm acquired the Royalty from IAMGOLD for total consideration of US$52.5 million in cash and 3 million common share purchase warrants of Sandstorm (the “Warrants”). The Warrants have a five year term, a strike price of US$4.50 per Sandstorm common share and will be exercisable following initial production from the Diavik Mine’s A21 pipe.
Cassels Brock & Blackwell LLP represented Sandstorm with a team comprising Jennifer Traub, Cathy Mercer and Jennifer Poirier (securities & mining).
IAMGOLD was represented by Fasken Martineau DuMoulin LLP with a team comprising Bradley Freelan and Michael Bourassa (corporate & securities) and David Steinhauer (business law).
Sandstorm acquired the Royalty from IAMGOLD for total consideration of US$52.5 million in cash and 3 million common share purchase warrants of Sandstorm (the “Warrants”). The Warrants have a five year term, a strike price of US$4.50 per Sandstorm common share and will be exercisable following initial production from the Diavik Mine’s A21 pipe.
Cassels Brock & Blackwell LLP represented Sandstorm with a team comprising Jennifer Traub, Cathy Mercer and Jennifer Poirier (securities & mining).
IAMGOLD was represented by Fasken Martineau DuMoulin LLP with a team comprising Bradley Freelan and Michael Bourassa (corporate & securities) and David Steinhauer (business law).
