Vancouver-based streaming company Sandstorm Gold (TSX:SSL) announced on Wednesday it is picking up Premier Royalty (TSX:NSR) in a Can$28.3 million deal.
The deal values the Premier Royalty shares at 89 cents each, a premium of 16% to the 20-day volume weighted average trading price.
Premier Royalty shareholders will receive common shares of Sandstorm on the basis of 0.145 of a Sandstorm Share for each Premier Royalty Share held.
The deal still has to be approved by Premier shareholders in September.
Premier's royalty portfolio includes mines in Argentina, South Africa and Brazil.