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Client Work

International Royalty Corporation completes $57.6 million bought-deal financing

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Confidential Client

On July 15, 2009, International Royalty Corporation ("IRC") announced that it had closed an offering of 14,100,000 common shares of IRC at a price of $3.55 per common share for total gross proceeds of about $50 million. IRC granted to the underwriters an over-allotment option which they exercised on July 24 resulting in further gross proceeds of $7.5 million, for total gross proceeds from the offering of about $57.6 million. Scotia Capital Inc. acted as lead underwriter in connection with the Offering, with CIBC World Markets Inc., Raymond James Ltd., Haywood Securities Inc. and Dahlman Rose & Co. comprising the remainder of the syndicate. IRC is a global mineral royalty company senior listed on the Toronto Stock Exchange (TSX: IRC) as well as the NYSE - Amex (NYSE-A: ROY). IRC was advised in this transaction by a team from Fasken Martineau that included Nancy Eastman, Daye Kaba, Georges Dubé, Brad Freelan and Alex Nikolic.



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