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    PSK   CA7397211086

PRAIRIESKY ROYALTY LTD.

(PSK)
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PrairieSky Royalty Ltd. entered into a definitive agreement to acquire Western Canadian Royalty Assets of Heritage Royalty for approximately CAD 730 million.

11/29/2021 EST

PrairieSky Royalty Ltd. (TSX:PSK) entered into a definitive agreement to acquire Western Canadian Royalty Assets of Heritage Royalty for approximately CAD 730 million on November 29, 2021. The aggregate price shall be CAD 728 million allocated as Proprietary Seismic Data CAD 23 million, Miscellaneous Interests CAD 1.00 and Fee Simple Lands and Acquired Royalty Interests CAD 704.999 million . The Acquisition will be funded through a new CAD 500 million term loan provided by TD Securities Inc., and a concurrent CAD 200 million bought deal equity financing led by TD Securities Inc. and RBC Capital Markets as joint bookrunners and co-led by CIBC Capital Markets and BMO Capital Markets on behalf of a syndicate of underwriters. PrairieSky has entered into an approximate CAD 200 million bought deal equity financing whereby a syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets as joint bookrunners and co-led by CIBC Capital Markets and BMO Capital Markets have agreed to purchase 14,930,000 million common shares of the Company at a price of CAD 13.40 per Common Share. If the over-allotment option is exercised in full, the Company will receive aggregate gross proceeds of approximately CAD 230 million. The Acquisition is subject to applicable regulatory approvals and satisfaction of certain other closing conditions customary in transactions of this nature, including approval under the Competition Act (Canada). The Acquisition is expected to close in December 2021, with an effective date of December 31, 2021. Immediately accretive to funds from operations per share and expected to be approximately 17% accretive to funds from operations per share in 2022. BMO Nesbitt Burns Inc. is the financial advisor to Heritage Resource LP.


ę S&P Capital IQ 2021
All news about PRAIRIESKY ROYALTY LTD.
11:06aPrairieSky Royalty Keeps Hold Rating at TPH Ahead of Fourth-Quarter Results
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01/12PrairieSky Royalty Announces Conference Call for 2021 Annual Results
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01/07ATB Capital Initiates Coverage of PrairieSky Royalty and Freehold Royalties
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2021PrairieSky Royalty Maintained at Hold by TPH as It Closes C$728-Million Property Acquis..
MT
2021PrairieSky Royalty Closes C$728-Million Acquisition of Western Canadian Royalty Lands
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2021PrairieSky Royalty Closes Acquisition of Western Canadian Royalty Assets and Expands Su..
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2021PrairieSky Royalty Ltd. Closes Acquisition of Western Canadian Royalty Assets
CI
2021PrairieSky Royalty Ltd. Expands Sustainability-Linked Loan
CI
2021PRAIRIESKY ROYALTY BRIEF : Says Closed $230.1 Million Bought Deal Equity Financing
MT
2021PrairieSky Royalty Closes $230.1 Million Bought Deal Equity Financing
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Analyst Recommendations on PRAIRIESKY ROYALTY LTD.
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Financials
Sales 2021 298 M 236 M 236 M
Net income 2021 - - -
Net Debt 2021 632 M 502 M 502 M
P/E ratio 2021 79,2x
Yield 2021 2,12%
Capitalization 3 403 M 2 716 M 2 702 M
EV / Sales 2021 13,6x
EV / Sales 2022 9,60x
Nbr of Employees 59
Free-Float 89,5%
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Technical analysis trends PRAIRIESKY ROYALTY LTD.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 14,25 CAD
Average target price 19,21 CAD
Spread / Average Target 34,8%
EPS Revisions
Managers and Directors
Andrew M. Phillips President, Chief Executive Officer & Director
Pamela P. Kazeil Chief Financial Officer & Vice President-Finance
James M. Estey Chairman
Cameron M. Proctor Chief Operating Officer & Secretary
Sheldon B. Steeves Independent Director
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