Freehold Royalties Ltd. (TO: FRU.TO) closed an acquisition of royalty interests in parts of Saskatchewan and Manitoba, the company said May 5.
The acquisition will support the company’s operating base as well as its dividend, Freehold added.
The CA$111 million transaction was funded through the company’s credit line, Freehold said. As part of it, Canpar Holdings Ltd., a wholly owned subsidiary of CN Pension Trust Funds, purchased some mineral title lands for $30 million, Freehold added.
The acquisition’s effective date was Jan. 1, the company said. The acquisition produced 470 ...