BULLETIN V2026-2246
SUMMIT ROYALTIES LTD. ("SUM")
BULLETIN TYPE: Plan of Arrangement-
BULLETIN DATE: July 6, 2026
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to an arms length arrangement agreement dated March 16, 2026, as amended on May 13, 2026, (the "Agreement") between Summit Royalties Ltd. (the "Company") and Star Royalties Ltd. (TSXV: STRR) ("Star"), whereby the Company acquired all of the issued and outstanding common shares of Star by way of a court-approved plan of arrangement under the provisions of the Canada Business Corporations Act (the "Arrangement").
Under the Agreement, each Star shareholder received 0.36 of a common share of the Company (each whole common share, a "Summit Share") for each common share of Star held (the "Exchange Ratio"). Further, holders of outstanding convertible securities of Star (stock options and restricted share units) have either received replacement securities to acquire Summit Shares adjusted based on the Exchange Ratio or upon exercise or settlement thereof will receive such Summit Shares based on the Exchange ratio (i.e. the same consideration they would have been entitled to receive had they been Star shareholders at the effective time of the Arrangement) ("Replacement Securities"), in each case, subject to adjustment as per the terms of the Agreement.
In accordance with the foregoing, 28,944,162 common shares of the Company have been issued under the Agreement on closing. Further, up to an aggregate of 1,680,877 common shares may be issuable on exercise or settlement of the Replacement Securities.
The Exchange has been advised that approval from the Star shareholders was received at a special meeting of Star shareholders held on June 22, 2026. Further, a final order approving the Arrangement was issued by the Ontario Superior Court of Justice (Commercial List) on June 24, 2026. The Arrangement became effective on July 3, 2026.
For further details, please refer to the Company's news releases dated March 16, 2026 and July 3, 2026.
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