07:40 AM EDT, 03/16/2026 (MT Newswires) -- Summit Royalties ( SUMMF ) Monday said it has moved to acquire Star Royalties ( STRFF ) , in an all-shares transaction valued at about $51 million.

Assuming completion of the transaction, Star shareholders will receive 0.360 Summit share per Star share held. The exchange will see Summit shareholders own 72% of the company, with Star shareholders owning the remaining 28%, on a fully-diluted in-the-money basis. The consideration implies a value of $0.60 per Star share based on the exchange ratio and the closing price of Summit shares on the TSX Venture Exchange on March 13, representing a 25% premium to the closing price of Star shares on the Exchange on the same date.

The combined company will own 50 royalties and streams across Canada, the U.S., and Australia; and a diversified revenue base with four assets currently in production expected to increase to 6 by 2027. The transaction is expected to close in the second quarter of this year.

"The addition of the Copperstone gold stream to our existing portfolio is expected to drive material cash flow growth in the coming years, further enhancing our ability to sustain our high-growth trajectory. With this transaction, Summit has scaled from zero to 50 assets in less than a year, and we are eager to continue building on this momentum through disciplined, accretive growth for the benefit of our shareholders," said chief executive Drew Clark.

Summit Royalties ( SUMMF ) closed up $0.04, to $1.67 on the TSX Venture Exchange on Friday. Star Royalties ( STRFF ) closed at $0.48 per share on March 12, its last day of trading.