On June 15, 2023, Horizon Copper Corp. completed the second part of the reverse takeover transaction whereby Horizon acquired a 1.66% net profits interest in the Antamina copper mine from Sandstorm Gold Ltd.
As consideration for the Antamina net profits interest, Horizon provided Sandstorm with (i) US$20 million in cash; (ii) a 1.66% life-of-mine silver stream referenced to the silver production from Antamina; (iii) a long-term secured convertible note with principal amount of US$149.1 million, and; (iv) 2,329,849 common shares.
Cassels acted for Sandstorm.