Horizon Copper receives court OK for Royal Gold deal

Executive Summary

• The Supreme Court of British Columbia granted final approval for Horizon Copper Corp.’s plan of arrangement with Royal Gold Inc. and its subsidiary AcquireCo.
• Upon completion, Royal Gold (via AcquireCo) will acquire all outstanding Horizon shares (except those held by Sandstorm Gold Ltd.) at $2 per share, and Horizon warrant holders will receive $2 less the applicable exercise price per underlying share.
• The transaction is expected to close on Oct. 20, 2025, after which Horizon plans to delist from the TSX Venture Exchange and cease reporting as a Canadian issuer.

Key Details

• Court Approval: Final order issued by the Supreme Court of British Columbia confirming the arrangement.
• Acquisition Structure: Royal Gold, indirectly through AcquireCo, will acquire 100 % of Horizon’s issued and outstanding shares (excluding Sandstorm Gold Ltd.’s holdings).
• Warrant Treatment: All outstanding Horizon warrants will be acquired; warrant holders receive cash equal to $2 minus the exercise price per underlying share.
• Shareholder Consideration: Cash payment of $2.00 per Horizon share to all shareholders not holding shares through Sandstorm Gold Ltd.
• Closing Timeline: Anticipated closing date Oct. 20, 2025, subject to satisfaction or waiver of customary closing conditions.
• Post‑Closing Actions:
• Horizon intends to delist its common shares from the TSX Venture Exchange.
• The company will apply to Canadian securities regulators to cease being a reporting issuer in applicable jurisdictions.
• Reference Documents: Detailed arrangement terms, regulatory matters, and approvals are outlined in the notice of meeting and management information circular dated Sept. 8, 2025 (available on SEDAR+).

Notable Quotes

(No direct quotes were provided in the release.)