International Royalty completes offering and acquires Voisey's Bay Royalty

On February 22, 2005, International Royalty Corp., a mining royalty interest company, completed an initial public offering of 34,883,721 common shares for gross proceeds of approximately $150 million and a private placement offering of units consisting of common shares and debentures for gross proceeds of $30 million. Haywood Securities Inc. and GMP Securities Ltd. co-led a syndicate of agents that included Canaccord Capital Corp., Raymond James Ltd., Salman Partners Inc. and Bolder Investment Partners, Ltd.

Concurrent with the initial public offering and unit offering, International Royalty completed the acquisition of all of the shares of Archean Resources Ltd., a private company that indirectly holds an effective 2.7 per cent net smelter return interest in the Voisey's Bay nickel-copper-cobalt project located in Labrador, Canada. Other royalty interests were also acquired.

International Royalty was represented by Fasken Martineau with a team that included Michael Bourassa and Josh Lewis (global mining), Chuck Higgins (securities/global mining), Janne Duncan, Nancy Eastman, Sonali GuptaBhaya, Lata Casciano, Robert Eberschlag, Georges Dubé, Krisztian Toth, John Sabetti and Jamie Pennell (corporate/securities), John Torrey (banking) and Alan Schwartz, Kathleen Hanly and Peter Vair (tax).