On November 5, 2007, International Royalty Corporation ("IRC") announced that it had closed an offering of 10,400,000 common shares of IRC at a price of $6.30 per common share. Total gross proceeds were $65,520,000. Scotia Capital Inc. and Haywood Securities Inc. acted as co-lead underwriters in connection with the offering, with Raymond James Ltd. comprising the remainder of the syndicate. IRC is a global mineral royalty company, senior listed on the Toronto Stock Exchange as well as the American Stock Exchange. IRC was advised in this transaction by a team from Fasken Martineau that included Michael Bourassa, Nancy Eastman, Daye Kaba and Alex Nikolic.