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Yamana Gold Completes Sale of Royalty Portfolio for Total Consideration of US$65 Million


On May 27, 2020, Yamana Gold Inc. completed the previously announced sale of a portfolio of royalty interests and a contingent payment to Nomad Royalty Company Ltd (formerly Guerrero Ventures Inc.) for total consideration of US$65 million. Yamana received upfront consideration comprised of US$45 million in common shares of Nomad and US$10 million in cash. In addition, Yamana has the right to receive an additional US$10 million through a deferred cash payment, that may be paid in cash or in common shares of Nomad.

Concurrently with the purchase of the Yamana portfolio of assets, Nomad completed the purchase a portfolio of precious metals royalty, stream and gold loan assets from certain funds related to Orion Resource Partners (USA) LP for total consideration of US$268 million. Upon closing of the acquisitions, Orion and Yamana hold approximately 77% and 13% of the outstanding common shares of Nomad, respectively, on a non-diluted basis.

Cassels acted as external counsel to Yamana with a team comprised of Mark Bennett, Cathy Mercer, Jamie Litchen and David Singh (Mining, Securities and M&A).

RELATED EXPERTISE: Mining | Securities | Mergers & Acquisitions