14:19:37 EDT Sat 10 Jun 2023
Enter Symbol
or Name

PrairieSky Royalty Ltd
Symbol PSK
Shares Issued 238,916,037
Close 2023-02-22 C$ 22.06
Recent Sedar Documents

Globe says Lithium Royalty follows Franco-Nevada idea

2023-02-23 08:27 ET - In the News

See In the News (C-FNV) Franco-Nevada Corp

The Globe and Mail reports in its Thursday edition that Lithium Royalty is going public with a planned $150-million-plus stock sale. The Globe's Andrew Willis writes that Lithium Royalty filed the paperwork on Wednesday for an initial public offering on the Toronto Stock Exchange, after tapping institutional investors for $130-million and investing in 27 projects. Despite a recent sell-off in lithium stocks, Lithium Royalty expects to raise at least $150-million, say unnamed sources. The offering would qualify as one of the five largest IPOs on the TSX in the past year, a dry period for public market debuts. Royalty companies finance mining or oil and gas projects in return for a share of future revenue. The concept has proven its merits across economic cycles, creating public companies such as Franco-Nevada, which was launched in 1983 and has a $33.5-billion market capitalization, and the oil patch's PrairieSky Royalty, valued at $5.3-billion and founded 10 years ago. Toronto-based Lithium Royalty plans to use cash from its IPO to increase the size and pace of its investments in lithium mines, according to its prospectus. Lithium Royalty holds royalty agreements on 27 projects in seven countries.

© 2023 Canjex Publishing Ltd. All rights reserved.