Nomad Royalty Company reports Q1 Results and declares Second Quarter 2021 Dividend

Montreal, Québec – May 10, 2021

(in U.S. dollars unless otherwise noted)

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce its preliminary gold and silver deliveries and sales from its royalty and stream interests for the second quarter of 2021:

Vincent Metcalfe, CEO and Chair of the Board of Directors of Nomad stated “Our portfolio delivered a strong first quarter of gold and silver production and represents a great start to the year. Our focus ahead is on maintaining this positive momentum by delivering on our stated goal of delivering value through further deployment of capital in new opportunities across the globe, which coupled with the strong organic growth of our current portfolio will allow Nomad to continue to generate strong free cash flow and support further growth and returns to shareholders.”

First Quarter Highlights:

  • Record quarterly deliveries of 5,575 gold equivalent ounces (“GEOs”)
  • Gold ounces earned of 5,029 (2,450 for Q1 2020)
  • Silver ounces earned of 37,338 (43,963 for Q1 2020)
  • GEOs(1) sold of 5,575 (3,817 for Q1 2020)
  • Record revenues of $9.7 million ($6.4 million for Q1 2020)
  • Net loss of $0.3 million (net income of $1.1 million for Q1 2020)
  • Adjusted net income(1) of $1.9 million ($4.1 million for Q1 2020)
  • Gross profit of $2.9 million ($0.7 million for Q1 2020)
  • Cash operating margin(1) of $7.9 million ($5.9 million for Q1 2020)
  • Cash operating margin(1) of 82% (93% for Q1 2020)
  • $25.3 million of cash as at March 31, 2021
  • Completed the acquisition of the second tranche of the Blackwater Gold Royalty
  • Declared a quarterly dividend of CAD $0.005 per common share for a total amount of $2.3 million paid on April 15, 2021

(1) Refer to the Non-IFRS measures section of this press release.

Declaration of dividends:

Nomad is also pleased to announce a quarterly dividend of CAD $0.005 per common share, payable on July 15, 2021 to Nomad’s shareholders of record as of the close of business on June 30, 2021.

For shareholders residing in the United States, the dividend will be paid in U.S. dollars based on the daily exchange rate published by the Bank of Canada on June 30, 2021. The dividend has been designated by Nomad as an “eligible dividend” under the Income Tax Act (Canada).

Q1 2021

By Category Ounces earned Ounces sold Revenues ($000)

Gold (in kind)

4,854

4,854

8,373

Gold (cash received)

175

314

5,029

4,854

8,687

Silver (in kind)

37,338

37,338

965

Total GEOs(1)

5,575

5,575

9,652

GEOs earned GEOs sold Revenues ($000) Cash costs ($000)

Premier Gold Prepay Loan

900

900

1,518

Bonikro Gold Stream

1,940

1,940

3,457

776

Mercedes and South Arturo Silver Stream

2,544

2,544

4,336

999

Blyvoor Gold Stream

16

16

27

9

RDM Gold Royalty

98

98

176

Moss Gold Royalty

77

77

138

Total

5,575

5,575

9,652

1,784

Cash operating margins ($000)

Premier Gold Prepay Loan

1,518

Bonikro Gold Stream

2,681

Mercedes and South Arturo Silver Stream

3,337

Blyvoor Gold Stream

18

RDM Gold Royalty

176

Moss Gold Royalty

138

Total

7,868

Q1 2020

GEOs earned GEOs sold Revenues ($000) Cash costs ($000)

Premier Gold Prepay Loan

2,450

2,450

3,962

Mercedes and South Arturo Silver Stream

253

1,150

2,058

367

Woodlawn Silver Stream

217

217

356

71

Total

2,920

3,817

6,376

438

Cash operating margins ($000)

Premier Gold Prepay Loan

3,962

Mercedes and South Arturo Silver Stream

1,691

Woodlawn Silver Stream

285

Total

5,938

For the first quarter of 2021, revenue was sourced 100% from gold and silver. Management’s objective for the portfolio is to maintain a focus on precious metals (primarily gold and silver) with a target of no more than 10% in revenue from other commodities. Geographically, revenue was sourced 64% (94% for Q1 2020) from the Americas, 36% (0% for Q1 2020) from Africa and 0% (6% for Q1 2020) from Australia.

ASSETS UPDATE

MINING OPERATIONS RESUME AT BLYVOOR

Blyvoor Gold Stream – Blyvoor Gold (PTY) Ltd.: Following the first gold shipment at the Blyvoor Gold Mine, mining activities were temporarily suspended as the result of an unlawful blockade. Since April 12, 2021, Blyvoor Gold Mine has re-commenced operations and production ramp up activities are ongoing again. With the majority of the workforce back to site, blasting, mining, hoisting and crushing activities have now resumed. The Blyvoor Gold Mine will be fully operational and additional deliveries will be expected at regular intervals as the mine ramps up to full production capacity by year end 2021. Safety remains a top priority for all stakeholders and as such the Blyvoor Gold Mine has implemented robust safety standards and strict working procedures. A technical report in connection with the Blyvoor Gold Mine mineral resource is expected to be completed in the second quarter of 2021.

EQUINOX GOLD ACQUIRES MERCEDES MINE

Mercedes Gold and Silver Stream – Equinox Gold Corp.: On April 7, 2021, the Company amended its Mercedes and South Arturo Silver Stream in connection with the closing of the acquisition of Premier Gold Mines Limited (“Premier Gold”) by Equinox Gold Corp. (“Equinox”) and the creation of a new company called i-80 Gold Corp. The Company entered into a second amended and restated purchase and sale agreement (gold and silver) with certain subsidiaries of Equinox in respect of the Mercedes Mine in Mexico (the “Mercedes Gold and Silver Stream”). Earlier in 2021, Premier Gold announced that there is expansion potential to increase production to 80,000 to 90,000 ounces of gold annually at the Mercedes Mine. Equinox has become the owner and operator of the Mercedes Mine since April 2021. Equinox operates seven mines globally, is very well capitalized and is led by a reputable management team with the ability to drive further productivity increases at the mine site.

Starting April 7, 2021, the new Mercedes Gold and Silver Stream Agreement provides for, in addition to silver deliveries described in the Company’s audited consolidated financial statements, fixed quarterly gold deliveries of 1,000 ounces of refined gold from the Mercedes Mine (subject to upward and downward adjustments in certain circumstances), plus an additional 6.5% of such adjusted amount payable in refined gold. Fixed quarterly gold deliveries shall terminate once an aggregate of 9,000 ounces of gold have been delivered (not including any refined gold received pursuant to the additional 6.5% of the adjusted amount).  If the quarterly average gold price is greater than $1,650 per ounce in any quarter, then the aggregate gold quantity deliverable in the next quarter is reduced by 100 ounces of refined gold, and if the quarterly average gold price is less than $1,350 per ounce, then the aggregate gold quantity deliverable is increased by 100 ounces of refined gold. Concurrently with the Company entering into the Mercedes Gold and Silver Stream Agreement, the gold prepay loan was terminated.

Similarly to the previous stream agreement, the Mercedes Gold and Silver Stream Agreement will continue to provide for a 100% silver stream on the Mercedes Mine until 3.75 million ounces (2.73 million ounces as of March 31, 2021) of silver have been delivered to the Company, as well as minimum annual deliveries of 300,000 ounces of silver until 2.1 million ounces (1.5 million ounces as of March 31, 2021) of silver have been delivered to the Company.

I-80 GOLD ACQUIRES SOUTH ARTURO MINE

South Arturo Silver Stream – i-80 Gold Corp. (“i-80 Gold”): The Company and i-80 Gold entered into a new South Arturo Silver Stream Agreement that provides for deliveries from i-80 Gold to the Company of 100% of the ounces of refined silver in attributable production from the existing mineralized areas at the South Arturo Mine (40% ownership by i-80 Gold) and 50% of ounces of refined silver in attributable production from the exploration area. The South Arturo Mine is 60% owned by Nevada Gold Mines LLC (“NGM”), a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation, and 40% by i-80 Gold. The terms of the South Arturo Silver Stream are similar to the previous stream agreement.

Regarding the South Arturo Mine operations, NGM had another exceptional year with production exceeding budget by over 30%. The strong performance was driven by higher production rates that averaged 694 tonnes per day processed. On January 19, 2021, i-80 Gold’s predecessor, Premier Gold, published a preliminary feasibility study on South Arturo which outlined an 8-year mine life and was based on a mineral resource estimate as at December 1, 2020 which included Nomad attributable reserves of 1.9 million ounces of silver (3.8Mt at 15.23g/t), measured and indicated resources of 4.0 million ounces of silver (20.0Mt at 6.19g/t) and an inferred mineral resource of 1.8 million ounces of silver (10.1Mt at 5.47g/t). In 2020, drill programs were completed at El Nino, with initial results suggesting the potential to expand underground resources and extend the mine life. A new mineral resource estimate will be completed in 2021 following receipt of all 2020 drilling results.

CONSIDERABLE NEAR SURFACE UPSIDE COULD LEAD TO ADDITIONAL DISCOVERIES AT ROBERTSON

Robertson Gold Royalty – Barrick Cortez Inc.: On February 18, 2021, following a strategic review by executive teams from Barrick and NGM, significant geological prospectivity of the NGM properties was confirmed and Barrick outlined its key development projects. Barrick mentioned that agile management and exploration and orebody knowledge was implanted at NGM and was already delivering results. The area between Pipeline and Robertson in the Cortez complex was mentioned as an area with exciting opportunities for major new discoveries.

On May 5, 2021, Barrick mentioned that, at Robertson, they were converting improved geological knowledge of the area into growth opportunities. Step-out drilling, 300 meters beyond the existing resource blocks suggest there is considerable near surface upside that could lead to additional discoveries and validate the potential of this area. Barrick are also looking at Pipeline, an old tier 1 asset, immediately adjacent to Robertson which could provide a significant addition to Cortez life of mine. At Robertson, on the western side of the district, drilling results were received from the Distal target, to the west of current resources, testing a structure which is potentially analogous to the controls of mineralization at the Gold Pan/39A zone. These results yielded multiple significant intercepts confirming the nature of the hypothesized mineralization control and an up-dip extension to surface. Follow-up drilling commencing in the second quarter of 2021 will target the extent of the mineralization up-dip and to the north. Metallurgical test work for processing at the Pipeline oxide mill and the heap leach is in progress. Continuing on the western side of the district, sectional interpretation is ongoing between the Carlin-type Pipeline and Crossroads deposits, as well as intrusive related mineralization at Robertson five kilometers to the north. Surface mapping and sampling has identified a favorable structural setting between the Pipeline/Crossroads and Robertson deposits with folds and thrust faulting, as well as high angle faults carrying anomalous gold indicative of leakage from a target at depth. The area has no historic deep drilling and will be tested by framework drilling in the second quarter of 2021.

WOODLAWN STRATEGIC PROCESS ACTIVE

Woodlawn Silver Stream – Heron Resources Limited (“Heron”): During the first quarter of 2021, Heron engaged in negotiations with potential counterparties. These negotiations are commercial in confidence and are ongoing. Heron will provide further updates as the strategic process continues.

A number of technical investigations and engineering programs continued or were completed during the quarter. These studies and programs were undertaken to identify value-adding opportunities in support of the current strategic process and are aimed at addressing technical issues that were identified during Woodlawn’s operational phase. Upgraded flotation reagent system design work was completed and flotation froth pumping design and flow sheet development were largely completed with the remaining work to be finalized next quarter. The Woodlawn Mine site remains on Care & Maintenance following the suspension of operations on March 24, 2020, with activities focused on preserving mining and processing infrastructure for future re-start, along with environmental management of the site.

GRADE CONTROL PROGRAM AT BLACKWATER FURTHER DE-RISKS INITIAL PROJECT

Blackwater Gold Royalty – Artemis Gold Inc. (“Artemis Gold”): On February 9, 2021, Artemis Gold announced that it had submitted applications to the Government of British Columbia to undertake an early works construction program in respect of its Blackwater Gold Project in British Columbia, Canada. The construction program is designed to focus on clearing of key infrastructure areas including haul roads, the stage 1 tailing storage facility and camp areas. In addition, construction of the mine access road and plant-site bulk earthworks will be fast-tracked to facilitate early mobilization of the Engineering, Procurement and Construction contractor to site upon receipt of major works permits. The permitting process in respect of the construction program is expected to take several months with approvals anticipated in the second quarter of 2021.

On March 29, 2021, Artemis Gold executed a binding memorandum of understanding with Ausenco Engineering Canada Inc. providing for a guaranteed maximum price (“GMP”) for a fixed-price Engineering, Procurement and Construction (“EPC”) contract to construct a 5.5 million tonne per annum processing facility and associated infrastructure for the Blackwater Gold project in Central British Columbia. On April 9, 2021, Artemis Gold executed a credit approved mandate letter and term sheet from Macquarie Bank Limited (“Macquarie”) and National Bank of Canada (“National Bank”) to arrange a CA$360 million Project Loan Facility (“PLF”), to fund a significant component of the estimated construction costs of the Blackwater Gold Project. Subject to final credit approval and final due diligence, Macquarie and National Bank would agree to each underwrite 50% of the PLF. In support of its Definitive Feasibility Study (“DFS”) and in preparation for commencement of construction for the Blackwater Gold Project, Artemis Gold has been conducting the following activities: ore grade control drilling to refine the detailed grade schedule and mine plan for the first year of production, metallurgical test work, geotechnical drilling as part of site preparation work, and a British Columbia Hydro study. The work program in the first six months of 2021 is on track to culminate with the completion of the DFS on the Blackwater Gold Project by mid 2021.

On May 4, 2021, Artemis Gold provided interim results of grade control drilling of high-grade near surface mineralization. The primary objectives of the grade control drilling program were to optimize the grade selectivity and mine schedule for managing the ore tonnes and grade to be processed in the first year of operations; more accurately delineate ore and waste boundaries to mitigate dilution; optimize drill and blast designs; and provide a larger sample size to reduce grade variability. A further update on the grade control drilling results and conclusions will be provided later in second quarter of 2021 once all final assay results have been completed and interpreted by Artemis Gold.

LARGE EXPLORATION PROGRAM CONTINUES AT MOSS

Moss Gold Royalty – Northern Vertex Mining Corp. (“Northern Vertex”): Northern Vertex is conducting an aggressive exploration program with 3 drill rigs onsite to expand the resource with the aim at extending the mine life and testing district scale targets. Recent results intersected high grade at the Ruth Vein target, widespread mineralization within the Gold Bridge and West Extension targets located 1.5 kilometres west of the pit, and similar Moss pit mineralization at the West target. Phase II drilling program was initiated in November 2020 and extended to February 2021, Phase II will focus on the high-grade Ruth Vein target, resource infill at Gold Bridge and target new discoveries within extensive stockwork gold and silver mineralization both on strike and at depth at the Moss Mine. The combined Phase I and II drilling programs will total 32,000 metres. In addition to the multi-phased exploration program, Northern Vertex continued to successfully implement a number of new initiatives to further optimize operations and reduce costs at the Moss Mine.

The Moss Mine is currently the largest pure gold and silver mine in Arizona, with large scale exploration potential. Northern Vertex has indicated that during the first half of 2021 the exploration plan includes infill drilling, property-wide exploration, and drill target definition for resource expansion. For the second half of 2021, the exploration focus will be on resource expansion drilling, regional geophysics, and a priority regional target drilling campaign.

On April 19, 2021, Northern Vertex announced production of 9,912 gold equivalent ounces for the quarter ended March 31, 2021 from the Moss Mine. Production from the West Pit continued to improve as Northern Vertex have now developed large production benches, which allows for maximum mining efficiency. The initial stripping to expose the Moss Vein in the West pit is largely complete. Although forecast grades and production will be lower in 2021 versus 2020, the current infill drilling program has identified numerous areas where additional drilling could improve the resource model and ultimately the mine. Northern Vertex is very excited about their evolving knowledge of the mineralization of the Moss Mine and believe that there are substantial opportunities to improve and expand the operation.

$35M GROWTH CAPITAL INVESTMENT AT RDM

RDM Gold Royalty – Equinox: On February 9, 2021, Equinox announced an investment of $35 million in growth capital relating entirely to capitalized stripping for a pushback of the open-pit, providing lower strip access to the ore body in future years. As per Equinox disclosure, the RDM Gold Mine production for 2021 is estimated at 55,000 to 60,000 ounces of gold with cash costs of $1,000 to $1,050 per ounce and all-in sustaining costs (“AISC”) of $1,175 to $1,225 per ounce. AISC at the RDM Gold Mine in 2021 includes $10 million of sustaining capital of which $6 million relates to increasing capacity of the tailings storage facility, with $2 million for equipment and $2 million for buildings and infrastructure.

EXPLORATION ACTIVITY AT SURUCA

Suruca Gold Royalty – Lundin Mining Corporation (“Lundin Mining”): In 2017, the Suruca SW mineralization was discovered exhibiting similar geological features to the Chapada deposit. Lundin Mining stated that during 2020, the objective was to delineate the copper-gold mineralization to the south west of Suruca. At year end 2020, 1,051 holes have been drilled for an aggregate total of 87,211 m at Suruca. During 2020, drilling was carried out in the copper-gold Suruca SW portion, where 2,047 m were drilled in 14 holes, notably hole SU_1085 reported 27.4 metres at 0.25% Cu; 0.19 g/t Au from 35 metres, which included 9.6 metres @ 0.32% Cu; 0.24 g/t Au from 38 metres. Separate metallurgical test work programs were initiated for the oxide and sulfide samples. Kappes, Cassiday & Associates updated and completed test work program which confirmed the amenability of Suruca ore to cyanide leaching and recommended further compaction test work.

TROILUS EXPANDS SW ZONE BY 40% TO 1.5KM

Troilus Gold Royalty – Troilus Gold Corp. (“Troilus”): In early 2021, Troilus reported positive results on the Southwest zone, including a 200-metre step-out hole which intersected high-grade gold-bearing mineralization between 50 metres and 450 metres from surface, and located outside of the NI 43-101 mineral resource envelope and the open pit proposed in the PEA. On March 16, 2021, Troilus reported additional assay results from the Southwest zone, expanding the mineralized strike length by a further +25%. On April 8, 2021, Troilus reported assay results for additional five drill holes from the Southwest Zone further expanding the gold zone by 40% to 1.5 kilometres. These results follow the winter 2021 drilling program, where Troilus implemented a 7,000 metres per month drilling program with the objective of expanding the mineral resource estimate at the Southwest Zone, definition drilling in the Z87 and J Zone and geotechnical drilling in support of the Pre-Feasibility Study. A Pre-Feasibility Study is expected to be published in the second half of 2021 and an Environmental Impact Study targeted for early 2022 for the Troilus Gold Project.

Share Capital

On March 31, 2021 there were 566,364,957 common shares of Nomad outstanding. As at May 10, 2021, the Company had 566,387,457 common shares, 11,593,715 share options and 22,881,734 common share purchase warrants outstanding. The Company also had 1,461,300 restricted share units and 673,800 deferred share units outstanding. Pursuant to the deferred payment payable to Yamana Gold Inc. and based on the CAD $/US$ daily exchange rate published by the Bank of Canada on May 10, 2021, 13,508,037 common shares would be issuable should the conversion option be exercised on such date.

Non-IFRS Measures

Nomad has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) including gold equivalent ounces, gold ounces and gold equivalent ounces earned and sold attributable to Nomad, adjusted net income, cash operating margin, cash costs, cash costs per gold ounce sold and cash costs per silver ounce sold.

In addition to the non-IFRS performance measures described below, the Company’s royalty and stream revenues are converted to gold equivalent ounces (“GEOs”) by dividing revenues for a specific period by the average realized gold price per ounce for the gold stream revenues and by dividing revenues by the average gold price for the gold royalty revenues, for the respective period. Silver earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces by the average silver price for the period and dividing by the average gold price for the period.

Adjusted net income and adjusted net income per share are calculated by removing the effects of the non-cash cost of sales related to the gold prepay loan, the non-cash change in fair value of the conversion option for the Deferred Payment to the Yamana Gold Inc. and the non-cash change in fair value of gold prepay loan and the deferred income tax recovery related to stream interests subject to the RTO Transaction. The Company believes that, in addition to measures prepared in accordance with IFRS, management and certain investors use this information to evaluate the Company’s performance.

Cash operating margin is calculated by subtracting the average cash cost of gold and silver on a per ounce basis from the average realized selling price of gold and silver on a per ounce basis. The Company presents cash operating margin as management and certain investors use this information to evaluate the Company’s performance in comparison to other streaming and royalty companies who present results on a similar basis as well as to evaluate the Company’s ability to generate cash flow.

Average cash cost of gold and silver on a per ounce basis is calculated by dividing the total cost of sales, less depletion and non-cash costs of sales related to the gold prepay loan, by the ounces sold. In addition to measures prepared in accordance with IFRS, management and certain investors use this information to evaluate the Company’s performance and ability to generate cash flow in comparison with other streaming and royalty companies in the precious metals mining industry who present similar measures of performance.

These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Refer to the Non-IFRS and Other Measures section of the Company’s Management Discussion and Analysis for the three months ended March 31, 2021.

QUALIFIED PERSON

Vincent Cardin-Tremblay, P. Geo., Vice President, Geology of Nomad Royalty is the “Qualified Person” as defined in NI 43-101 who has reviewed and approved the technical content of this news release.

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 14 royalty and stream assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market or business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company announces its Intention to Commence a Normal Course Issuer Bid

Montreal, Québec – April 27, 2021

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) today announced that it intends to commence a normal course issuer bid (the “NCIB”) to purchase, for cancellation, up to 15,550,053 common shares in the capital of the Company (“Common Shares”), which represents approximately 10% of the public float (as defined in the TSX Company Manual) and approximately 2.75% of the issued and outstanding Common Shares as of April 15, 2021. As at April 15, 2021, the Company had 566,364,957 Common Shares issued and outstanding.

Purchases of Common Shares under the NCIB may be made through the facilities of the Toronto Stock Exchange (“TSX”) and alternative trading systems in Canada by means of open market transactions.

Management and the Board of Directors of the Company believes that, at appropriate times, repurchasing its Common Shares through the NCIB represents a good use of the Company’s financial resources, as such action can protect and enhance shareholder value when opportunities arise.

The NCIB is expected to commence on April 29, 2021 and will terminate no later than April 28, 2022. All purchases of Common Shares will be made in compliance with applicable TSX rules. The average daily trading volume of the Common Shares on the TSX for the six calendar months preceding March 31, 2021 is 206,165 Common Shares. In accordance with the TSX rules and subject to the exception for block purchases, a maximum daily repurchase of 25% of this average may be made, representing 51,541 Common Shares. The price per Common Share will be based on the market price of such shares at the time of purchase in accordance with regulatory requirements. All Common Shares acquired under the NCIB will be subsequently cancelled.

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 15 royalty, and stream, assets, of which 8 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

 

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4                                                                               nomadroyalty.com

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this press release include statements about the timing of the expected commencement of trading of the Company’s consolidated common shares on the Toronto Stock Exchange and the OTCQX market. Although Nomad believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Nomad cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the share consolidation may adversely affect the market price of the common shares; the commencement of trading of the consolidated common shares on either or both of the TSX and the OTCQX market may be delayed; the liquidity and market price of the common shares and Nomad’s ability to raise capital may be adversely affected by the share consolidation; Nomad’s capital requirements may exceed its current expectations; and other risk factors described in Nomad’s annual information form for the fiscal year ended December 31, 2020, Form 40-F annual report and other filings with the Canadian securities regulators and the United States Securities and Exchange Commission, which may be viewed under Nomad’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, respectively. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company reports Q1 Results and declares Second Quarter 2021 Dividend

Montreal, Québec – May 10, 2021

(in U.S. dollars unless otherwise noted)

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce its preliminary gold and silver deliveries and sales from its royalty and stream interests for the second quarter of 2021:

Vincent Metcalfe, CEO and Chair of the Board of Directors of Nomad stated “Our portfolio delivered a strong first quarter of gold and silver production and represents a great start to the year. Our focus ahead is on maintaining this positive momentum by delivering on our stated goal of delivering value through further deployment of capital in new opportunities across the globe, which coupled with the strong organic growth of our current portfolio will allow Nomad to continue to generate strong free cash flow and support further growth and returns to shareholders.”

First Quarter Highlights:

  • Record quarterly deliveries of 5,575 gold equivalent ounces (“GEOs”)
  • Gold ounces earned of 5,029 (2,450 for Q1 2020)
  • Silver ounces earned of 37,338 (43,963 for Q1 2020)
  • GEOs(1) sold of 5,575 (3,817 for Q1 2020)
  • Record revenues of $9.7 million ($6.4 million for Q1 2020)
  • Net loss of $0.3 million (net income of $1.1 million for Q1 2020)
  • Adjusted net income(1) of $1.9 million ($4.1 million for Q1 2020)
  • Gross profit of $2.9 million ($0.7 million for Q1 2020)
  • Cash operating margin(1) of $7.9 million ($5.9 million for Q1 2020)
  • Cash operating margin(1) of 82% (93% for Q1 2020)
  • $25.3 million of cash as at March 31, 2021
  • Completed the acquisition of the second tranche of the Blackwater Gold Royalty
  • Declared a quarterly dividend of CAD $0.005 per common share for a total amount of $2.3 million paid on April 15, 2021

(1) Refer to the Non-IFRS measures section of this press release.

Declaration of dividends:

Nomad is also pleased to announce a quarterly dividend of CAD $0.005 per common share, payable on July 15, 2021 to Nomad’s shareholders of record as of the close of business on June 30, 2021.

For shareholders residing in the United States, the dividend will be paid in U.S. dollars based on the daily exchange rate published by the Bank of Canada on June 30, 2021. The dividend has been designated by Nomad as an “eligible dividend” under the Income Tax Act (Canada).

For the first quarter of 2021, revenue was sourced 100% from gold and silver. Management’s objective for the portfolio is to maintain a focus on precious metals (primarily gold and silver) with a target of no more than 10% in revenue from other commodities. Geographically, revenue was sourced 64% (94% for Q1 2020) from the Americas, 36% (0% for Q1 2020) from Africa and 0% (6% for Q1 2020) from Australia.

ASSETS UPDATE

MINING OPERATIONS RESUME AT BLYVOOR

Blyvoor Gold Stream – Blyvoor Gold (PTY) Ltd.: Following the first gold shipment at the Blyvoor Gold Mine, mining activities were temporarily suspended as the result of an unlawful blockade. Since April 12, 2021, Blyvoor Gold Mine has re-commenced operations and production ramp up activities are ongoing again. With the majority of the workforce back to site, blasting, mining, hoisting and crushing activities have now resumed. The Blyvoor Gold Mine will be fully operational and additional deliveries will be expected at regular intervals as the mine ramps up to full production capacity by year end 2021. Safety remains a top priority for all stakeholders and as such the Blyvoor Gold Mine has implemented robust safety standards and strict working procedures. A technical report in connection with the Blyvoor Gold Mine mineral resource is expected to be completed in the second quarter of 2021.

EQUINOX GOLD ACQUIRES MERCEDES MINE

Mercedes Gold and Silver Stream – Equinox Gold Corp.: On April 7, 2021, the Company amended its Mercedes and South Arturo Silver Stream in connection with the closing of the acquisition of Premier Gold Mines Limited (“Premier Gold”) by Equinox Gold Corp. (“Equinox”) and the creation of a new company called i-80 Gold Corp. The Company entered into a second amended and restated purchase and sale agreement (gold and silver) with certain subsidiaries of Equinox in respect of the Mercedes Mine in Mexico (the “Mercedes Gold and Silver Stream”). Earlier in 2021, Premier Gold announced that there is expansion potential to increase production to 80,000 to 90,000 ounces of gold annually at the Mercedes Mine. Equinox has become the owner and operator of the Mercedes Mine since April 2021. Equinox operates seven mines globally, is very well capitalized and is led by a reputable management team with the ability to drive further productivity increases at the mine site.

Starting April 7, 2021, the new Mercedes Gold and Silver Stream Agreement provides for, in addition to silver deliveries described in the Company’s audited consolidated financial statements, fixed quarterly gold deliveries of 1,000 ounces of refined gold from the Mercedes Mine (subject to upward and downward adjustments in certain circumstances), plus an additional 6.5% of such adjusted amount payable in refined gold. Fixed quarterly gold deliveries shall terminate once an aggregate of 9,000 ounces of gold have been delivered (not including any refined gold received pursuant to the additional 6.5% of the adjusted amount).  If the quarterly average gold price is greater than $1,650 per ounce in any quarter, then the aggregate gold quantity deliverable in the next quarter is reduced by 100 ounces of refined gold, and if the quarterly average gold price is less than $1,350 per ounce, then the aggregate gold quantity deliverable is increased by 100 ounces of refined gold. Concurrently with the Company entering into the Mercedes Gold and Silver Stream Agreement, the gold prepay loan was terminated.

Similarly to the previous stream agreement, the Mercedes Gold and Silver Stream Agreement will continue to provide for a 100% silver stream on the Mercedes Mine until 3.75 million ounces (2.73 million ounces as of March 31, 2021) of silver have been delivered to the Company, as well as minimum annual deliveries of 300,000 ounces of silver until 2.1 million ounces (1.5 million ounces as of March 31, 2021) of silver have been delivered to the Company.

I-80 GOLD ACQUIRES SOUTH ARTURO MINE

South Arturo Silver Stream – i-80 Gold Corp. (“i-80 Gold”): The Company and i-80 Gold entered into a new South Arturo Silver Stream Agreement that provides for deliveries from i-80 Gold to the Company of 100% of the ounces of refined silver in attributable production from the existing mineralized areas at the South Arturo Mine (40% ownership by i-80 Gold) and 50% of ounces of refined silver in attributable production from the exploration area. The South Arturo Mine is 60% owned by Nevada Gold Mines LLC (“NGM”), a joint venture between Barrick Gold Corporation (“Barrick”) and Newmont Corporation, and 40% by i-80 Gold. The terms of the South Arturo Silver Stream are similar to the previous stream agreement.

Regarding the South Arturo Mine operations, NGM had another exceptional year with production exceeding budget by over 30%. The strong performance was driven by higher production rates that averaged 694 tonnes per day processed. On January 19, 2021, i-80 Gold’s predecessor, Premier Gold, published a preliminary feasibility study on South Arturo which outlined an 8-year mine life and was based on a mineral resource estimate as at December 1, 2020 which included Nomad attributable reserves of 1.9 million ounces of silver (3.8Mt at 15.23g/t), measured and indicated resources of 4.0 million ounces of silver (20.0Mt at 6.19g/t) and an inferred mineral resource of 1.8 million ounces of silver (10.1Mt at 5.47g/t). In 2020, drill programs were completed at El Nino, with initial results suggesting the potential to expand underground resources and extend the mine life. A new mineral resource estimate will be completed in 2021 following receipt of all 2020 drilling results.

CONSIDERABLE NEAR SURFACE UPSIDE COULD LEAD TO ADDITIONAL DISCOVERIES AT ROBERTSON

Robertson Gold Royalty – Barrick Cortez Inc.: On February 18, 2021, following a strategic review by executive teams from Barrick and NGM, significant geological prospectivity of the NGM properties was confirmed and Barrick outlined its key development projects. Barrick mentioned that agile management and exploration and orebody knowledge was implanted at NGM and was already delivering results. The area between Pipeline and Robertson in the Cortez complex was mentioned as an area with exciting opportunities for major new discoveries.

On May 5, 2021, Barrick mentioned that, at Robertson, they were converting improved geological knowledge of the area into growth opportunities. Step-out drilling, 300 meters beyond the existing resource blocks suggest there is considerable near surface upside that could lead to additional discoveries and validate the potential of this area. Barrick are also looking at Pipeline, an old tier 1 asset, immediately adjacent to Robertson which could provide a significant addition to Cortez life of mine. At Robertson, on the western side of the district, drilling results were received from the Distal target, to the west of current resources, testing a structure which is potentially analogous to the controls of mineralization at the Gold Pan/39A zone. These results yielded multiple significant intercepts confirming the nature of the hypothesized mineralization control and an up-dip extension to surface. Follow-up drilling commencing in the second quarter of 2021 will target the extent of the mineralization up-dip and to the north. Metallurgical test work for processing at the Pipeline oxide mill and the heap leach is in progress. Continuing on the western side of the district, sectional interpretation is ongoing between the Carlin-type Pipeline and Crossroads deposits, as well as intrusive related mineralization at Robertson five kilometers to the north. Surface mapping and sampling has identified a favorable structural setting between the Pipeline/Crossroads and Robertson deposits with folds and thrust faulting, as well as high angle faults carrying anomalous gold indicative of leakage from a target at depth. The area has no historic deep drilling and will be tested by framework drilling in the second quarter of 2021.

WOODLAWN STRATEGIC PROCESS ACTIVE

Woodlawn Silver Stream – Heron Resources Limited (“Heron”): During the first quarter of 2021, Heron engaged in negotiations with potential counterparties. These negotiations are commercial in confidence and are ongoing. Heron will provide further updates as the strategic process continues.

A number of technical investigations and engineering programs continued or were completed during the quarter. These studies and programs were undertaken to identify value-adding opportunities in support of the current strategic process and are aimed at addressing technical issues that were identified during Woodlawn’s operational phase. Upgraded flotation reagent system design work was completed and flotation froth pumping design and flow sheet development were largely completed with the remaining work to be finalized next quarter. The Woodlawn Mine site remains on Care & Maintenance following the suspension of operations on March 24, 2020, with activities focused on preserving mining and processing infrastructure for future re-start, along with environmental management of the site.

GRADE CONTROL PROGRAM AT BLACKWATER FURTHER DE-RISKS INITIAL PROJECT

Blackwater Gold Royalty – Artemis Gold Inc. (“Artemis Gold”): On February 9, 2021, Artemis Gold announced that it had submitted applications to the Government of British Columbia to undertake an early works construction program in respect of its Blackwater Gold Project in British Columbia, Canada. The construction program is designed to focus on clearing of key infrastructure areas including haul roads, the stage 1 tailing storage facility and camp areas. In addition, construction of the mine access road and plant-site bulk earthworks will be fast-tracked to facilitate early mobilization of the Engineering, Procurement and Construction contractor to site upon receipt of major works permits. The permitting process in respect of the construction program is expected to take several months with approvals anticipated in the second quarter of 2021.

On March 29, 2021, Artemis Gold executed a binding memorandum of understanding with Ausenco Engineering Canada Inc. providing for a guaranteed maximum price (“GMP”) for a fixed-price Engineering, Procurement and Construction (“EPC”) contract to construct a 5.5 million tonne per annum processing facility and associated infrastructure for the Blackwater Gold project in Central British Columbia. On April 9, 2021, Artemis Gold executed a credit approved mandate letter and term sheet from Macquarie Bank Limited (“Macquarie”) and National Bank of Canada (“National Bank”) to arrange a CA$360 million Project Loan Facility (“PLF”), to fund a significant component of the estimated construction costs of the Blackwater Gold Project. Subject to final credit approval and final due diligence, Macquarie and National Bank would agree to each underwrite 50% of the PLF. In support of its Definitive Feasibility Study (“DFS”) and in preparation for commencement of construction for the Blackwater Gold Project, Artemis Gold has been conducting the following activities: ore grade control drilling to refine the detailed grade schedule and mine plan for the first year of production, metallurgical test work, geotechnical drilling as part of site preparation work, and a British Columbia Hydro study. The work program in the first six months of 2021 is on track to culminate with the completion of the DFS on the Blackwater Gold Project by mid 2021.

On May 4, 2021, Artemis Gold provided interim results of grade control drilling of high-grade near surface mineralization. The primary objectives of the grade control drilling program were to optimize the grade selectivity and mine schedule for managing the ore tonnes and grade to be processed in the first year of operations; more accurately delineate ore and waste boundaries to mitigate dilution; optimize drill and blast designs; and provide a larger sample size to reduce grade variability. A further update on the grade control drilling results and conclusions will be provided later in second quarter of 2021 once all final assay results have been completed and interpreted by Artemis Gold.

LARGE EXPLORATION PROGRAM CONTINUES AT MOSS

Moss Gold Royalty – Northern Vertex Mining Corp. (“Northern Vertex”): Northern Vertex is conducting an aggressive exploration program with 3 drill rigs onsite to expand the resource with the aim at extending the mine life and testing district scale targets. Recent results intersected high grade at the Ruth Vein target, widespread mineralization within the Gold Bridge and West Extension targets located 1.5 kilometres west of the pit, and similar Moss pit mineralization at the West target. Phase II drilling program was initiated in November 2020 and extended to February 2021, Phase II will focus on the high-grade Ruth Vein target, resource infill at Gold Bridge and target new discoveries within extensive stockwork gold and silver mineralization both on strike and at depth at the Moss Mine. The combined Phase I and II drilling programs will total 32,000 metres. In addition to the multi-phased exploration program, Northern Vertex continued to successfully implement a number of new initiatives to further optimize operations and reduce costs at the Moss Mine.

The Moss Mine is currently the largest pure gold and silver mine in Arizona, with large scale exploration potential. Northern Vertex has indicated that during the first half of 2021 the exploration plan includes infill drilling, property-wide exploration, and drill target definition for resource expansion. For the second half of 2021, the exploration focus will be on resource expansion drilling, regional geophysics, and a priority regional target drilling campaign.

On April 19, 2021, Northern Vertex announced production of 9,912 gold equivalent ounces for the quarter ended March 31, 2021 from the Moss Mine. Production from the West Pit continued to improve as Northern Vertex have now developed large production benches, which allows for maximum mining efficiency. The initial stripping to expose the Moss Vein in the West pit is largely complete. Although forecast grades and production will be lower in 2021 versus 2020, the current infill drilling program has identified numerous areas where additional drilling could improve the resource model and ultimately the mine. Northern Vertex is very excited about their evolving knowledge of the mineralization of the Moss Mine and believe that there are substantial opportunities to improve and expand the operation.

$35M GROWTH CAPITAL INVESTMENT AT RDM

RDM Gold Royalty – Equinox: On February 9, 2021, Equinox announced an investment of $35 million in growth capital relating entirely to capitalized stripping for a pushback of the open-pit, providing lower strip access to the ore body in future years. As per Equinox disclosure, the RDM Gold Mine production for 2021 is estimated at 55,000 to 60,000 ounces of gold with cash costs of $1,000 to $1,050 per ounce and all-in sustaining costs (“AISC”) of $1,175 to $1,225 per ounce. AISC at the RDM Gold Mine in 2021 includes $10 million of sustaining capital of which $6 million relates to increasing capacity of the tailings storage facility, with $2 million for equipment and $2 million for buildings and infrastructure.

EXPLORATION ACTIVITY AT SURUCA

Suruca Gold Royalty – Lundin Mining Corporation (“Lundin Mining”): In 2017, the Suruca SW mineralization was discovered exhibiting similar geological features to the Chapada deposit. Lundin Mining stated that during 2020, the objective was to delineate the copper-gold mineralization to the south west of Suruca. At year end 2020, 1,051 holes have been drilled for an aggregate total of 87,211 m at Suruca. During 2020, drilling was carried out in the copper-gold Suruca SW portion, where 2,047 m were drilled in 14 holes, notably hole SU_1085 reported 27.4 metres at 0.25% Cu; 0.19 g/t Au from 35 metres, which included 9.6 metres @ 0.32% Cu; 0.24 g/t Au from 38 metres. Separate metallurgical test work programs were initiated for the oxide and sulfide samples. Kappes, Cassiday & Associates updated and completed test work program which confirmed the amenability of Suruca ore to cyanide leaching and recommended further compaction test work.

TROILUS EXPANDS SW ZONE BY 40% TO 1.5KM

Troilus Gold Royalty – Troilus Gold Corp. (“Troilus”): In early 2021, Troilus reported positive results on the Southwest zone, including a 200-metre step-out hole which intersected high-grade gold-bearing mineralization between 50 metres and 450 metres from surface, and located outside of the NI 43-101 mineral resource envelope and the open pit proposed in the PEA. On March 16, 2021, Troilus reported additional assay results from the Southwest zone, expanding the mineralized strike length by a further +25%. On April 8, 2021, Troilus reported assay results for additional five drill holes from the Southwest Zone further expanding the gold zone by 40% to 1.5 kilometres. These results follow the winter 2021 drilling program, where Troilus implemented a 7,000 metres per month drilling program with the objective of expanding the mineral resource estimate at the Southwest Zone, definition drilling in the Z87 and J Zone and geotechnical drilling in support of the Pre-Feasibility Study. A Pre-Feasibility Study is expected to be published in the second half of 2021 and an Environmental Impact Study targeted for early 2022 for the Troilus Gold Project.

Share Capital

On March 31, 2021 there were 566,364,957 common shares of Nomad outstanding. As at May 10, 2021, the Company had 566,387,457 common shares, 11,593,715 share options and 22,881,734 common share purchase warrants outstanding. The Company also had 1,461,300 restricted share units and 673,800 deferred share units outstanding. Pursuant to the deferred payment payable to Yamana Gold Inc. and based on the CAD $/US$ daily exchange rate published by the Bank of Canada on May 10, 2021, 13,508,037 common shares would be issuable should the conversion option be exercised on such date.

Non-IFRS Measures

Nomad has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) including gold equivalent ounces, gold ounces and gold equivalent ounces earned and sold attributable to Nomad, adjusted net income, cash operating margin, cash costs, cash costs per gold ounce sold and cash costs per silver ounce sold.

In addition to the non-IFRS performance measures described below, the Company’s royalty and stream revenues are converted to gold equivalent ounces (“GEOs”) by dividing revenues for a specific period by the average realized gold price per ounce for the gold stream revenues and by dividing revenues by the average gold price for the gold royalty revenues, for the respective period. Silver earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces by the average silver price for the period and dividing by the average gold price for the period.

Adjusted net income and adjusted net income per share are calculated by removing the effects of the non-cash cost of sales related to the gold prepay loan, the non-cash change in fair value of the conversion option for the Deferred Payment to the Yamana Gold Inc. and the non-cash change in fair value of gold prepay loan and the deferred income tax recovery related to stream interests subject to the RTO Transaction. The Company believes that, in addition to measures prepared in accordance with IFRS, management and certain investors use this information to evaluate the Company’s performance.

Cash operating margin is calculated by subtracting the average cash cost of gold and silver on a per ounce basis from the average realized selling price of gold and silver on a per ounce basis. The Company presents cash operating margin as management and certain investors use this information to evaluate the Company’s performance in comparison to other streaming and royalty companies who present results on a similar basis as well as to evaluate the Company’s ability to generate cash flow.

Average cash cost of gold and silver on a per ounce basis is calculated by dividing the total cost of sales, less depletion and non-cash costs of sales related to the gold prepay loan, by the ounces sold. In addition to measures prepared in accordance with IFRS, management and certain investors use this information to evaluate the Company’s performance and ability to generate cash flow in comparison with other streaming and royalty companies in the precious metals mining industry who present similar measures of performance.

These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Refer to the Non-IFRS and Other Measures section of the Company’s Management Discussion and Analysis for the three months ended March 31, 2021.

QUALIFIED PERSON

Vincent Cardin-Tremblay, P. Geo., Vice President, Geology of Nomad Royalty is the “Qualified Person” as defined in NI 43-101 who has reviewed and approved the technical content of this news release.

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 14 royalty and stream assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market or business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company announces its Intention to Commence a Normal Course Issuer Bid

Montreal, Québec – April 27, 2021

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) today announced that it intends to commence a normal course issuer bid (the “NCIB”) to purchase, for cancellation, up to 15,550,053 common shares in the capital of the Company (“Common Shares”), which represents approximately 10% of the public float (as defined in the TSX Company Manual) and approximately 2.75% of the issued and outstanding Common Shares as of April 15, 2021. As at April 15, 2021, the Company had 566,364,957 Common Shares issued and outstanding.

Purchases of Common Shares under the NCIB may be made through the facilities of the Toronto Stock Exchange (“TSX”) and alternative trading systems in Canada by means of open market transactions.

Management and the Board of Directors of the Company believes that, at appropriate times, repurchasing its Common Shares through the NCIB represents a good use of the Company’s financial resources, as such action can protect and enhance shareholder value when opportunities arise.

The NCIB is expected to commence on April 29, 2021 and will terminate no later than April 28, 2022. All purchases of Common Shares will be made in compliance with applicable TSX rules. The average daily trading volume of the Common Shares on the TSX for the six calendar months preceding March 31, 2021 is 206,165 Common Shares. In accordance with the TSX rules and subject to the exception for block purchases, a maximum daily repurchase of 25% of this average may be made, representing 51,541 Common Shares. The price per Common Share will be based on the market price of such shares at the time of purchase in accordance with regulatory requirements. All Common Shares acquired under the NCIB will be subsequently cancelled.

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 15 royalty, and stream, assets, of which 8 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

 

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4                                                                               nomadroyalty.com

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this press release include statements about the timing of the expected commencement of trading of the Company’s consolidated common shares on the Toronto Stock Exchange and the OTCQX market. Although Nomad believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Nomad cautions investors that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the share consolidation may adversely affect the market price of the common shares; the commencement of trading of the consolidated common shares on either or both of the TSX and the OTCQX market may be delayed; the liquidity and market price of the common shares and Nomad’s ability to raise capital may be adversely affected by the share consolidation; Nomad’s capital requirements may exceed its current expectations; and other risk factors described in Nomad’s annual information form for the fiscal year ended December 31, 2020, Form 40-F annual report and other filings with the Canadian securities regulators and the United States Securities and Exchange Commission, which may be viewed under Nomad’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov, respectively. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company declares dividend for First Quarter 2021

Montreal, Québec – February 22, 2021

Nomad Royalty Company Ltd. (“Nomad”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce a quarterly dividend of CAD $0.005 per common share, payable on April 15, 2021 to Nomad’s shareholders of record as of the close of business on March 31, 2021.

For shareholders residing in the United States, the dividend will be paid in U.S. dollars based on the daily exchange rate published by the Bank of Canada on March 31, 2021. The dividend has been designated by Nomad as an “eligible dividend” under the Income Tax Act (Canada).

 

 

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 14 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include: the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market and business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward-looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risks they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company acquires a Royalty on the Blackwater Gold Project in Canada

Montreal, Québec – January 11, 2021

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce that it has completed a royalty purchase agreement with private vendors (“Vendors”) to acquire an existing net smelter return royalty (the “Royalty”) on the Blackwater Gold project (the “Property”) located in British Columbia, Canada (the “Royalty Purchase”) for total consideration of approximately US$3.0 million (the “Purchase Price”).

Vincent Metcalfe, Chief Executive Officer of Nomad, commented on the transaction, “We are very pleased to announce the acquisition of a royalty on a large gold deposit with significant potential for resource expansion, and with a clear path to development.  The Blackwater Gold project represents one of the few sizeable near-shovel ready projects worldwide.  Furthermore, the addition of the royalty now adds British Columbia, Canada to Nomad’s growing list of jurisdictions where we own precious metal royalties and streams.”

 

The Blackwater Gold Project:

The Property is located in central British Columbia, approximately 160 km southwest of Prince George, 446 km northeast of Vancouver and is accessible by major highway and access/service roads.  The Property  is 100% owned and operated by Artemis Gold (the “Operator”).  The Operator has recently revised the development approach for the Blackwater Gold project and released a revised pre-feasibility study in August 2020. A definitive feasibility study is currently underway and scheduled for mid-2021. The start of construction is planned for the second quarter of 2022, with anticipated production in 2024.

 

The Royalty:

The Royalty consists of a 0.21% net smelter return royalty on all metals and minerals produced from mineral tenure 515809 which covers a portion of the Blackwater Gold project and the higher-grade starter pit area. Figure 1.

 

Figure 1: Plan View of the Ultimate Pit Limits and Mineral Tenure 515809

Figure 1: Plan View of the Ultimate Pit Limits and Mineral Tenure 515809

The Blackwater Gold Project Highlights:

The Operator’s revised development approach includes a reduced initial development capital, a focus on high-grade starter zone located in the southwestern zone of the deposit and improved gold and silver recoveries. The Proven & Probable Reserves currently stand at 334.0 million tonnes at grades of 0.75 g/t Gold and 5.8 g/t Silver for contained 8.0 Million ounces of Gold and 62.3 million ounces of Silver.

 

 

Blackwater Gold Project Summary:

Phase Year

Location

British Columbia, Canada

Ownership

100%

Status

Pre-Feasibility Study

Type of Mine

Open Pit, CIP Mill

Gold Reserves

8 Million ounces

Silver Reserves

60 Million ounces

Gold Resources

11.7 Million ounces

Silver Resources

122.4 Million ounces

Phase 1

Years 1-5 

Initial Development Capital

CAD$592 Million

Throughput

5.5 Million TPA

Average Annual Gold Production

248,000

AISC ($oz Au)

US$508

Phase 2

Years 6-10 

Expansion Capital

CAD$426 Million

Throughput

12.0 Million TPA

Average Annual Gold Production

420,000

AISC ($oz Au)

US$529

Phase 3

Years 11-17 

Expansion Capital

CAD$380 Million

Throughput

20.0 Million TPA

Average Annual Gold Production

442,000

AISC ($oz Au)

US$529

Phase 4

Years 18-23 

Expansion Capital

nil

Throughput

20.0 Million TPA

Average Annual Gold Production

189,000

AISC ($oz Au)

US$807

LOM

23 Years

Payback Period

2.0 years

After-Tax IRR

35%

After Tax NPV (5%)

CAD$2,247 Million

The Potential Resource Upside:

In November 2020, the Operator began the first 35,000 metre grade control program which will focus on delineating an area in the southwestern portion of the Blackwater pit (scheduled in the 2020 PFS to be mined in year 1 of operations), which returned significant near surface high-grade mineralized intercepts.

 

The Blackwater Gold project has a high level of drilling density with more than 300,000 metres of diamond drilling previously completed, ultimately supporting its current 2020 PFS Mineral Resource estimate (with 75% of the Measured and Indicated Mineral Resource in the Measured category). However, despite the extent of the drilling to date, the deposit remains open to potentially substantial expansion. As illustrated in Figure 2 (attached), the deposit remains open to the north, north-west and at depth in the southwest. The Operator plans to complete a limited diamond drill program in 2021 to test for extensions to the known mineralization of the deposit in the directions that remain open.

Figure 2: Section View of Blackwater Mineralization and 2020 PFS Pit Walls

Source : Artemis Gold Company Filings

The Purchase:

The Purchase Price was satisfied by Nomad paying approximately US$1.7 million (C$2.2 million) in cash and by the issuance of 1,583,710 shares of the Company to the Vendor.

 

QUALIFIED PERSON

Vincent Cardin-Tremblay, P. Geo., Vice President, Geology of Nomad Royalty is the “Qualified Person” as defined in National Instruments NI 43-101 who has reviewed and approved the technical content of this news release.

 

 

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 14 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

 

Forward-looking statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Nomad believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market or business conditions. Nomad cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Nomad believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Nomad Royalty Company joins un Global Compact

Montreal, Québec – December 15, 2020

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR and OTCQX: NSRXF) is pleased to announce that it has joined the United Nations (“UN”) Global Compact. Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 11,500 companies and non-business signatories based in over 160 countries.

As a participant, Nomad has committed to voluntarily aligning its operations and strategy with the ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption.  Nomad’s short-term focus will be on four Sustainable Development Goals (“SDGs”): Quality Education; Gender Equality; Clean Water and Sanitation; and Climate Action.

“Nomad is building the UN Global Compact principles into the foundation of our business systems.  As a UN Global Compact member, we will continually seek opportunities to work with our partners towards long term environmental protection and social benefits in the communities where they operate” said Vincent Metcalfe, Chief Executive Officer of Nomad.

By signing the UN Global Compact, Nomad is committing to annual reporting on our SDGs. Ongoing work with our partners, shareholders and other stakeholders will continue to inform our approach.

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 13 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

 

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

Nomad announces closing of secondary offering of common shares by Yamana

Montreal, Québec – December 11, 2020

Nomad Royalty Company Ltd. (“Nomad”) (TSX: NSR) today announced the closing of the secondary offering by Yamana Gold Inc. (the “Selling Shareholder” or “Yamana”) of 22,750,000 common shares of Nomad (the “Nomad Shares”) at a price of CDN $1.10 per Nomad Share for total gross proceeds of CDN $25,025,000 to the Selling Shareholder (the “Offering”). Nomad will not receive any proceeds from the Offering.

Cormark Securities Inc. and Scotia Capital Inc. acted as co-lead underwriters and joint bookrunners for the Offering, together with a syndicate of underwriters including BMO Nesbitt Burns Inc., CIBC World Markets Inc., Haywood Securities Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc., PI Financial Corp., Raymond James Ltd., Stifel GMP and Velocity Trade Capital Ltd.

“Through this transaction we have been able to attract a significant amount of new retail and institutional investors to Nomad. We are now well positioned to work on further enhancing trading liquidity and valuations over time as we keep building Nomad” said Vincent Metcalfe, Chief Executive Officer of Nomad.

 

Early Warning Disclosure

Prior to the closing of the Offering, Yamana held 66,500,000 Nomad Shares, and is deemed to have held an additional 14,148,889 Nomad Shares under the Nomad Convertible (defined below), representing approximately 11.78% of the issued and outstanding Nomad Shares on a non-diluted basis and approximately 13.94% of the issued and outstanding Nomad Shares on a partially-diluted basis (assuming conversion of the Nomad Convertible).

Following the closing of the Offering, Yamana holds 43,750,000 Nomad Shares, and is deemed to hold the additional 14,148,889 Nomad Shares under the Nomad Convertible, representing approximately 7.75% of the issued and outstanding Nomad Shares on a non-diluted basis and approximately 10.01% of the issued and outstanding Nomad Shares on a partially-diluted basis (assuming conversion of the Nomad Convertible).

Yamana is party to a US$10,000,000 convertible debt instrument with Nomad in connection with a deferred payment owing to Yamana by Nomad, which is payable in cash and is convertible at any time, in whole or in part into Nomad Shares at the election of Yamana, on or before maturity on May 27, 2022, subject to a right of pre-payment in cash by Nomad at 105% of the deferred payment at the end of May 2021, into an aggregate of 14,148,889 Nomad Shares (based on the daily exchange rate of the Bank of Canada of 1.2734 as of December 10, 2020 and the price of CDN $0.90 per Nomad Share), subject to adjustment in certain circumstances (the “Nomad Convertible”). Yamana is entitled to receive interest on the Nomad Convertible at a rate of 3% per annum, payable quarterly, which may be paid in either cash or through the issuance of Nomad Shares at the election of Nomad.

The disposition of the Nomad Shares under the Offering was made for investment purposes. Yamana currently has no plans or intentions to acquire or dispose of any additional Nomad Shares. However, depending on market conditions, general economic and industry conditions, trading prices of Nomad’s securities, Nomad’s business, financial condition and prospects and/or other relevant factors, Yamana may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the Nomad Shares, the Nomad Convertible or other securities of Nomad.

Yamana will file an early warning report under National Instrument 62-103 in connection with the Offering.  A copy of the early warning report filed by Yamana will be available under Nomad’s profile on SEDAR at www.sedar.com or by contacting Sofia Tsakos, Senior Vice President, General Counsel and Corporate Secretary at 416-815-0220. Yamana’s head office is located at Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2200, Toronto, Ontario, M5J 2J3.

No securities regulatory authority has either approved or disapproved the contents of this press release. The Nomad Shares have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws. Accordingly, the Nomad Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Nomad Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

 

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 13 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

Nomad Royalty Company LTD. announces $25.0 Million secondary bought deal offering by Yamana Gold INC.

Montreal, Québec – December 3, 2020

Nomad Royalty Company Ltd. (“Nomad” or the “Company”) (TSX: NSR) announces that it, together with Yamana Gold Inc. (the “Selling Shareholder”), has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. and Scotia Capital Inc. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase for resale, on a “bought deal” basis, 22,750,000 common shares of the Company (the “Common Shares”) currently held by the Selling Shareholder at a price of $1.10 per Common Share (the “Offering Price”) for gross proceeds to the Selling Shareholder of approximately $25.0 million (the “Offering”). The Company will not receive any proceeds from the Offering.

The Common Shares will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s final base shelf prospectus dated September 30, 2020 (“Base Shelf Prospectus”). The Prospectus Supplement will be filed in all of the provinces of Canada and, together with the related Base Shelf Prospectus, will be available on SEDAR at www.sedar.com.

The Offering is scheduled to close on or about December 11, 2020 and is subject to certain conditions including, but not limited to, receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

 

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 13 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montréal (Québec) H3B 0G4

Nomad Royalty Company completes acquisition of Coral Gold

Montreal, QC and Vancouver, BC – November 19, 2020

Nomad Royalty Company Ltd. (“Nomad”) (TSX: NSR and OTCQX: NSRXF) and Coral Gold Resources Ltd. (“Coral”) (TSX-V: CLH; OTCQX: CLHRF) are pleased to announce that Nomad has completed its previously announced acquisition of Coral pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”).

Pursuant to the Transaction, Nomad acquired all of the outstanding shares of Coral (“Coral Shares”). Coral shareholders received, for each Coral Share held, consideration consisting of C$0.05 in cash and 0.80 of a unit (a “Unit”) of Nomad (collectively, the “Consideration”).  Each whole Unit is comprised of one Nomad common share (a “Nomad Share) and one-half of a common share purchase warrant (a “Warrant”). Each full Warrant entitles the holder thereof to purchase one additional Nomad Share at a price of C$1.71 for a period of two years following the date hereof. If the daily volume-weighted average trading price of Nomad Shares on the Toronto Stock Exchange exceeds the Warrant exercise price by at least 25% for any period of 20 consecutive trading days after one year from the date hereof, Nomad will have the right to give notice in writing to the holders of the Warrants that the Warrants will expire 30 days following such notice, unless exercised prior thereto.

Upon surrender to Computershare Trust Company of Canada (the “Depositary”) of certificates representing Coral Shares that were outstanding immediately prior to the effective time of the Arrangement, together with a duly completed and executed Letter of Transmittal, registered holders of such shares are entitled to receive the Consideration pursuant to, and subject to the terms and conditions of, the Plan of Arrangement. Each registered shareholder (other than CDS and DTC) will receive a Direct Registration Advice (“DRS Advise”), evidencing the Nomad Shares and Warrants held by such shareholder. A shareholder can request to receive a physical share certificate representing the Nomad Shares or physical warrant certificate representing the Warrants by completing the information accompanying the DRS Advise. Any questions regarding payment of the Consideration, including any requests for an additional copy of the Letter of Transmittal, should be directed to the Depositary via telephone at 1-800-564-6253 (toll free in North America) or via email at corporateactions@computershare.com.

Non-registered holders of Coral Shares that were outstanding immediately prior to the effective time of the Arrangement should contact their nominee (i.e., broker, trust company, bank or other registered holder) which holds the certificates representing such securities, on their behalf to arrange for surrender and payment pursuant to the Arrangement.

As a result of the Transaction, the Coral Shares are expected to be delisted from the TSX Venture Exchange (the “TSXV”) and any other stock exchange on which the Coral Shares are listed or quoted, after the close of business on Friday, November 20, 2020, and Nomad will apply to have Coral cease to be a reporting issuer in every province of Canada in which it is a reporting issuer.  Nomad has applied to list the Warrants issuable pursuant to the Arrangement and the TSX has conditionally approved the listing of the Warrants, subject to Nomad fulfilling all of the standard requirements of the TSX, which cannot be assured.

As a result of the closing of the Transaction, there are 564,520,578 common shares of Nomad issued and outstanding on a non-diluted basis.

 

 

 

ABOUT NOMAD

Nomad Royalty Company Ltd. is a gold & silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Following the Transaction, Nomad owns a portfolio of 13 royalty, stream, and gold loan assets, of which 6 are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold & silver streams and royalties. For more information please visit: www.nomadroyalty.com.

Nomad Royalty Company Ltd.

500-1275 ave. des Canadiens-de-Montréal

Montreal, Québec H3B 0G4

 

ABOUT CORAL

Coral is a precious metals exploration company, where it has explored one of the world’s richest gold districts in Nevada for over 30 years.  Coral’s primary asset is a sliding scale net smelter returns production royalty on Nevada Gold Mines LLC’s (“NGM”) Robertson Property in Nevada.  Coral also holds a portfolio of strategically-located exploration projects near NGM’s Pipeline/Cortez Mine Complex on Nevada’s Battle Mountain/Cortez Trend. For more information please visit: www.coralgold.com

  

Forward-Looking Statements

Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Nomad and Coral expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, the delisting of the Coral Shares from the TSXV and any other exchange on which the Coral Shares are listed or quoted (and the timing thereof), Nomad’s application to have Coral cease to be a reporting issuer in every province of Canada in which it is a reporting issuer; the exploration update and development of the Robertson Property; and Nomad’s intention with Coral’s business after closing of the Transaction. Although Nomad and Coral believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future results, which may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the response from the TSXV regarding the request for the Coral Shares delisting, the impossibility to acquire royalties, streams and to fund precious metal streams, gold prices, Nomad’s royalty and stream interests, mineral resource estimates, access to skilled consultants, results of mining operations, exploration and development activities for properties with respect to which Nomad holds a royalty or stream, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations, market prices, continued availability of capital and financing and general economic, market or business conditions. These risks, uncertainties and other factors include, but are not limited to, those described under “COVID-19” and “Risks and Uncertainties” in Nomad’s Management Discussion and Analysis for the three and nine month periods ended September 30, 2020, as well as those described under “Risk Factors” in Nomad’s short form base shelf prospectus dated September 30, 2020, copies of which are available on Nomad’s profile on SEDAR at www.sedar.com. Nomad and Coral caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Nomad and Coral believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Nomad and Coral undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.