DENVER, Nov. 5 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX:RGL), the
leading publicly-traded precious metals royalty company, today announced that
it has commenced a public offering of 1.0 million shares of its mandatory
convertible preferred stock ("Preferred Stock") for $100.00 per share. The
Preferred Stock will be mandatorily convertible into shares of Royal Gold
common stock on November 15, 2010. The underwriters have an option to
purchase up to an additional 150,000 shares of Preferred Stock to cover
over-allotments, if any.
The Company currently intends to use the net proceeds from this offering
for acquisitions of additional royalty interests as further described in the
prospectus supplement for the offering.
Merrill Lynch & Co. is acting as the sole book-running manager and HSBC
is acting as co-manager for the offering.
The offering will be made pursuant to Royal Gold's effective shelf
registration statement filed with the Securities and Exchange Commission (the
"SEC"). 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 Preferred
Stock in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. Any offering of Preferred Stock will
be made only by means of a prospectus and prospectus supplement.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to this offering may be obtained by contacting Merrill
Lynch & Co., 4 World Financial Center, New York, New York 10080; Phone
Royal Gold is a precious metals royalty company engaged in the
acquisition and management of precious metals royalty interests. Royal Gold
is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD,"
and on the Toronto Stock Exchange under the symbol "RGL." The Company's web
page is located at http://www.royalgold.com.
Cautionary "Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: This press release contains certain
forward-looking statements. Factors that could cause actual results to differ
materially from the forward looking statements are described in Royal Gold's
Annual Report on Form 10-K and other of its filings with the SEC. Readers
should keep in mind that forward-looking statements are much less reliable
than historical information. Royal Gold disclaims any obligation to update any
forward-looking statement made herein.
For further information:
For further information: Karen Gross, Vice President and Corporate
Secretary of Royal Gold, Inc., +1-303-573-1660 Web Site: