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Vancouver, BC – Sandstorm Gold Ltd. (NYSE: SAND, TSX: SSL) has received a critical green light in its pending acquisition by Royal Gold Inc., paving the way for a potential shakeup in the precious metals royalty landscape. The approval encompasses regulatory hurdles related to competition and foreign investment, including clearances under the *Investment Canada Act*, the *Competition Act* (Canada), and South African antitrust laws.
This marks a significant step toward finalizing the deal, referred to as the “Sandstorm Transaction.” Royal Gold’s pursuit of Sandstorm is driven by a strategic ambition to diversify its portfolio and enhance its long-term growth prospects. The consolidation of these two major players could lead to increased pricing power within the royalty and streaming sector, potentially impacting smaller companies and future deal structures.
However, several conditions remain before the acquisition can be finalized. These include approvals from Royal Gold’s and Sandstorm’s stockholders, sanction by the Supreme Court of British Columbia, the fulfillment or waiver of conditions related to the Horizon Transaction, and securing Nasdaq listing for the Royal Gold shares to be issued in the deal. While awaiting the satisfaction of all conditions for the transaction, preliminary estimates target an early fourth quarter 2025 closing date.
Analysts at CNBC are closely watching potential synergies that could emerge from this deal. Royal Gold’s established operational infrastructure, combined with Sandstorm’s diverse royalty portfolio, could lead to significant cost efficiencies and improved deal origination capabilities. Furthermore, the combined entity will have a stronger balance sheet, allowing for greater participation in larger, more complex mining projects.
Sandstorm is urging its shareholders to participate in the upcoming special meeting on October 9, 2025, at 8:00 a.m. (Vancouver Time) to vote on the proposed arrangement with Royal Gold. The deadline for proxy voting is October 7, 2025, at 8:00 a.m. (Vancouver Time). The board of directors is uniformly in favor of the Arrangement.
Considering complications that may arise from recent labor-related strike from postal services in Canada, shareholders are encouraged to leverage online means of casting their ballots. For shareholders who have already deposited a physical ballot, resubmission by online methods will ensure proper assessment. Registered shareholders who wish to deposit physical documents with Computershare should use courier services to 320 Bay Street, 14th Floor, Toronto, Ontario M5H 4A6.
Shareholders can vote via www.investorvote.com if holding shares represented by a physical certificate, and non-registered shareholders can vote via www.proxyvote.com. Telephone options exist as well.
The company portfolio holds approximately 230 royalties, and maintains interests across 40 operating mines.
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