09:56 AM EST - Royal Gold Inc. : and International Royalty Corp. announced that they have entered into an agreement, under which Royal Gold, through its wholly-owned Canadian subsidiary, will acquire all of the issued and outstanding common shares of International Royalty or IRC. At the election of the shareholder, each common share of IRC will be exchanged for either $7.45 in cash or 0.1385 common shares of Royal Gold or a combination thereof, subject to a maximum of $350 million U.S. in cash and a maximum of 7.75 million common shares of Royal Gold to be issued to IRC shareholders. If IRC shareholders elect to receive more than approximately $314 million U.S. in cash, the number of Royal Gold common shares issued will be reduced on a pro-rated basis until such cash election reaches a maximum of $350 million U.S. Royal Gold Inc.
shares T.RGL are trading up $0.33 at $50.56.
