- Total transaction value of $421 million with Orogen Royalties (OTCQX:OGNRF) completing its plan of arrangement with Triple Flag Precious Metals.
- Shareholders to receive a mix of cash, Triple Flag shares, and Orogen SpinCo shares based on elections.
- Triple Flag invests $10 million in Orogen SpinCo, subscribing for 6,756,757 shares at $1.48 each.
Orogen Royalties Inc. (OTCQX:OGNRF) has successfully concluded its previously announced arrangement with Triple Flag Precious Metals, valuing the transaction at approximately $421 million, or $2.00 per share. The deal structure consists of $171.5 million in cash, $171.5 million in Triple Flag shares, and Orogen SpinCo shares valued at $78 million. The arrangement provides Orogen shareholders with varying combinations of Triple Flag shares, cash, and Orogen SpinCo shares based on their preferences.
As part of the transaction, Triple Flag has made a strategic $10 million investment into Orogen SpinCo, acquiring 6,756,757 shares at a price of $1.48 per share. These funds are intended for Orogen SpinCo’s prospect generation business and royalties investment.
Upon completion, the new entity, Orogen Royalties Inc., will start trading under the symbol "OGN" on the TSX Venture Exchange on July 11, 2025, with 59,359,932 shares outstanding. Orogen SpinCo retains all assets and mineral rights except for the 1% net smelter return royalty on the Arthur Gold project.
Additionally, Orogen and Triple Flag have established a generative exploration alliance in the western United States with an initial budget of US$435,000. This alliance aims to identify and develop gold and silver targets similar to the Arthur gold project, with prospects to sell interests in projects for cash, equity, and retained royalties.
