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Sandstorm said it issued approximately 74.4 million common shares of the company to former Nomad shareholders equal to an exchange ratio of 1.21 Sandstorm shares for each common share of Nomad. The company added that Nomad is a high-growth precious metals-focused royalty company with a portfolio of 20 royalty and stream assets, of which seven are on currently producing mines.
The company said that the transactions resulted in industry-leading portfolio diversification with a resulting portfolio of 250 streams and royalties, of which 39 of the underlying assets are cash-flowing and no asset contributing more than 15% to the company's consensus net asset value.