Royal Gold To Sell Versamet Shares To Tether Investments And Nemesia

(RTTNews) - Royal Gold, Inc. (RGLD) Monday said its wholly-owned subsidiary, International Royalty Corporation, has reached a deal with Tether Investments, S.A. de C.V. and Nemesia S.à.r.l to sell 11.8 million shares to Tether and 11.8 million shares of Versamet to Nemesia at C$8.75 per share, for about C$207 million.

These sales are undertaken with the support of Versamet's Board of Directors.

"The disposition of the Versamet shares is in line with our stated objective of simplifying the Sandstorm portfolio," commented Bill Heissenbuttel, President and CEO of Royal Gold. "We will apply the proceeds to debt repayment, which is consistent with our focus on repaying the borrowings we incurred to complete the recent Sandstorm and Kansanshi acquisitions.

Immediately prior to the sales, Royal Gold, through IRC, will hold beneficial ownership of, or control and direction over, 23.7 million Versamet shares, representing approximately 25% of Versamet common shares.