Gold Financiers To Merge As Metal's Price Drop Stings

Law360, New York (August 14, 2013, 1:19 PM EDT) -- Sandstorm Gold Ltd., a upstart in the arena of metals streaming, will buy out minority shareholders of Premier Royalty Inc., the parties announced Wednesday, looking to grow as falling gold prices have pinched margins.

Shareholders of Premier Royalty Inc. will received 0.145 shares of Sandstorm for each Premier share, a swap that values Premier at about $28.3 million. Sandstorm already owns nearly 60 percent of Premier, and the tie-up, which analyst Heiko Ihle of Euro Pacific Capital called “a logical tuck-in acquisition,” didn't come as a...
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