- Great Bear Royalties Corp. (GBRR) has been acquired by subsidiaries owned by Royal Gold Inc.
- Great Bear shareholders will receive $6.65 per share
- One subsidiary will pay roughly $200 million in cash to Great Bear Royalties shareholders
- The shares are expected to be delisted by market close on Monday
- Great Bear Royalties Corp. (GBRR) is unchanged trading at $6.64 per share as of 1:11 p.m. ET
Great Bear Royalties (GBRR) has been acquired by subsidiaries owned by Royal Gold Inc.
This transaction is the result of a previously announced binding agreement.
Great Bear Royalties shareholders will receive $6.65 per share. One subsidiary (1370553 B.C. Ltd) will pay shareholders roughly $200 million in cash.
The shares are expected to be delisted from the TSX Venture Exchange by market close on Monday. After this, the second subsidiary (International Royalty Corporation) will apply for Great Bear Royalties to no longer be a reporting issuer.
Great Bear Royalties is a precious metals royalty and streaming company with a 2.00 per cent net smelter royalty asset on Kinross Gold Corporation’s Great Bear Project located in Northwestern Ontario.
The company stated the Great Bear Project is Canada’s newest major gold discovery and has one of the country’s largest active exploration programs helping establish its status as a tier one gold project.
Great Bear Royalties Corp. (GBRR) is unchanged trading at $6.64 per share as of 1:11 p.m. ET.
