Great Bear Royaties Corp. (CNW Group/Great Bear Royalties Corp.)
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  • Great Bear Royalties Corp. (GBRR) has signed a binding agreement with International Royalty Corporation (IRC), a wholly-owned subsidiary of Royal Gold, Inc.
  • The agreement is for International Royalty to acquire all of the issued and outstanding common shares of Great Bear Royalties
  • Shareholders of Great Bear Royalties will receive all-cash consideration of C$200 million, which represents C$6.65 per Great Bear Royalties common share on a fully diluted basis.
  • Great Bear Royalties Corp. is a precious metals royalty and streaming company
  • Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties, etc
  • Great Bear Royalties Corp. is up 48.409 per cent on the day, trading at C$6.53 at 3:56 PM ET

Great Bear Royalties (GBRR) is acquiring all issued and outstanding common shares of International Royalty Corporation (IRC).

International Royalty Corporation is a wholly-owned subsidiary of Royal Gold, Inc.,

Shareholders of Great Bear Royalties will receive all-cash consideration of C$200 million, or C$6.65 per share.

The transaction price represents a premium of 51.1 per cent and 43.0 per cent to the closing price and the 20-day VWAP, respectively, of Great Bear Royalties’ shares on the TSXV as of July 8, 2022.

“After a thorough strategic review process, we are very pleased to provide this all-cash premium offer to our shareholders,” stated Calum Morrison, President and CEO of Great Bear Royalties.

“We strongly support Royal Gold’s offer to acquire the company and encourage all shareholders to do so as well,” he added.

“The Great Bear saga represents one of the great Canadian gold discoveries of the past century,” said John Robins, Chair of the Board of Great Bear Royalties.

“The sale of Great Bear Royalties to Royal Gold is the culmination of value creation for our shareholders, and we very much look forward to following the development of the Great Bear Project,” he added.

Great Bear Royalties Corp. is a precious metals royalty and streaming company.

Royal Gold is a precious metals stream and royalty company engaged in acquiring and managing precious metal streams, royalties and similar production-based interests.

Great Bear Royalties Corp. is up 48.409 per cent on the day, trading at C$6.53 at 3:56 PM ET.

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