July 7 (Reuters) - Royal Gold ( RGLD ) said on Monday it

will acquire Canada's Sandstorm Gold ( SAND ) for an equity

value of about $3.5 billion.

Under the all-stock deal, Colorado-based Royal Gold ( RGLD ) will

issue 0.0625 shares for each Sandstorm share.

Royal Gold ( RGLD ) said that upon completion of the transactions,

its shareholders will own nearly 77% and Sandstorm shareholders

will own about 23% of the combined company.

The deal is expected to close in the fourth quarter of 2025.