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Client Work

International Royalty agrees to US$700 million acquisition by Royal Gold

Fasken
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International Royalty

On February 22, 2010, Royal Gold, Inc. (NASDAQ: RGLD; TSX:RGL), through its wholly-owned subsidiary RG Exchangeco Inc., completed the acquisition, by a court-approved plan of arrangement, of all of the issued and outstanding common shares of International Royalty Corporation (TSX: IRC, NYSE-A:ROY) ("IRC").The arrangement valued IRC at approximately $700 million. This represents a premium of approximately 70% over IRC's 20-day volume-weighted average trading price on the Toronto Stock Exchange through December 4, 2009, the last trading day prior to the public announcement by Franco-Nevada Corporation of its intention to make an all-cash offer for IRC common shares. IRC was advised in this transaction by Fasken Martineau with a team that included Michael Bourassa, Richard Steinberg, Rob Mason, Aaron Atkinson, Nancy Eastman, Daniel Batista, Alex Nikolic, Amanda Fullerton, and Daye Kaba (securities/mining); David Johnson and David Ferris (banking); Samuel Rickett, Christine Tabbert, Murray Braithwaite and David Hausman (litigation); Huy Do (competition); and William Bies, Mitchell Thaw and Peter Vair (tax).

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