The Toronto Stock Exchange reports that Sandstorm Gold Ltd. will be delisted at the close on Oct. 21, 2025. According to the TSX, Royal Gold Inc. has indirectly acquired all of the issued and outstanding shares of Sandstorm, pursuant to a plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia).

The TSX reports that holders of Sandstorm shares will receive 0.0625 of a Royal Gold share per Sandstorm share held. No fractional Royal Gold shares will be issued upon the exchange of Sandstorm shares pursuant to the arrangement. Where the total number of Royal Gold shares to be issued to a shareholder under the arrangement would result in a fractional Royal Gold share being issuable, such fractional Royal Gold share will be rounded up to the nearest whole Royal Gold share in the event that a shareholder is entitled to a fractional share representing 0.5 or more of a Royal Gold share, and will be rounded down to the nearest whole Royal Gold share in the event that a shareholder is entitled to a fractional share representing less than 0.5 of a Royal Gold share. To receive the consideration, return the letter of transmittal together with Sandstorm share certificates or direct registration system advices to Computershare Investor Services Inc. at its principal offices in Toronto.

For more information, see Sandstorm's management information circular dated Sept. 8, 2025, available on SEDAR+.