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Cassels Brock Client, Royal Gold, Inc., Completes Underwritten At-the-Market Public Offering for Gross Proceeds of US$268.4 Million

Published: 01/17/2012

By Joan Beck, Andrea Rigobon, Heather Zordel

On January 13, 2012, Royal Gold, Inc. announced the closing of the sale of four million shares of its common stock to Goldman, Sachs & Co. in an underwritten at-the-market public offering. The offering was made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission and a shelf prospectus filed under the Multi-Jurisdictional Disclosure System in all Provinces of Canada other than Quebec. Proceeds to Royal Gold from the offering were US$268.4 million before expenses. Goldman, Sachs & Co. acted as the sole underwriter for the offering.

Royal Gold intends to use the net proceeds of the offering for the acquisition of additional royalty or similar interests, to fund near term obligations resulting from its Milligan II acquisition, and to repay debt, including debt incurred to find the acquisition of an additional property interest in the gold production of the Mt. Milligan project in December 2011.

Cassels Brock acted for Royal Gold Inc. with a team that included Heather Zordel (Securities and Mining), Joan Beck (Securities and Mining) and Andrea Rigobon (Securities).  Hogan Lovells US LLP acted as U.S. counsel for Royal Gold.