Franco-Nevada and Sandstorm Defeated in Burkina Faso Court Proceedings, Gold Purchase Agreement Annulled

OUAGADOUGOU, Burkina Faso, June 16, 2026 /CNW/ - On 10 June 2026, the Commercial Court of Ouagadougou ruled in favour of Riverstone Karma SA in proceedings against Franco-Nevada (Barbados) Corporation ("Franco-Nevada") and International Royal Corporation (previously Sandstorm Gold Bank Ltd.) ("Sandstorm" or "IRC"). The court nullified the Gold Purchase Agreement dated 11 August 2014, ordering the payment of CFA 5,218,224,600 (approximately US$9.3 million) to Riverstone Karma SA and dismissed all objections raised by the defendants.

The judgment follows proceedings commenced by Riverstone Karma SA in September 2025 and a full hearing before the Commercial Court on 23 April 2026. Following consideration of the parties' submissions, the Court rejected Franco-Nevada's and Sandstorm's challenges to the jurisdiction of the Burkinabe courts, declared Riverstone Karma's claims well-founded and ordered the defendants to bear the legal costs of the proceedings.

The judgment was rendered on 10 June 2026, with the Court's full written reasons expected to follow.

About Riverstone Karma SA

Riverstone Karma SA operates the Karma Gold Mine, an open-pit gold mine located in northern Burkina Faso. The company is focused on responsible mining, sustainable value creation and supporting the economic development of Burkina Faso.

The judgment was rendered with the Court's complete written reasons to follow.

SOURCE Riverstone Karma SA

Media Contact: Lucas Meyer, Enterprise Canada, [email protected]