Striking Workers at Villa Colombo Get Support From the Society of United Professionals
The Society of United Professionals added their union to the growing list of supportive organizations, unions, and community members who want to see a fair deal for the members of CUPE 5525. In a letter addressed to the directors of Villa Colombo and Villa Charities, the Society of United Professionals calls on the employer to end their use of scab labour and return to the table with an offer that respects the skill and dedication these workers bring to their roles.
At issue for the union members are fair pay, sick days, and a benefits package that will enable these workers to provide the best care possible for the residents of the buildings they service. The employer's proposal contained significant concessions to the working conditions of these workers.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250704496212/en/
Contacts
Bill ChalupiakCUPE Communications Representativewchalupiak@cupe.ca 416-707-1401
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VANCOUVER, BC, July 7, 2025 /CNW/ - Horizon Copper Corp. (TSXV: HCU) (OTCQB: HNCUF) ("Horizon Copper", "Horizon", or the "Company") is pleased to announce that the Company has entered into a definitive arrangement agreement with Royal Gold, Inc. ("Royal Gold"), pursuant to which Royal Gold will acquire all of the issued and outstanding common shares of Horizon Copper (the "Horizon Shares"), other than those held by Sandstorm Gold Ltd. ("Sandstorm"). When accounting for the Horizon Shares and all other securities of the company, the all-cash transaction is valued at approximately US$196 million (the "Horizon Transaction"). Horizon Copper shareholders will receive C$2.00 for each Horizon Share held, implying an 85% premium to the 20-day volume weighted average price ("VWAP") of the Horizon Shares, and a 72% premium to the closing price of the Horizon Shares on the TSX Venture Exchange (the "TSX-V") on July 4, 2025. Concurrent with the Horizon Transaction, Royal Gold has entered into a definitive arrangement agreement with Sandstorm, pursuant to which Royal Gold will acquire all of the issued and outstanding common shares of Sandstorm in an all-share transaction valued at approximately US$3.5 billion (the "Sandstorm Transaction"). For full details of the Sandstorm Transaction, refer to Royal Gold and Sandstorm's press releases dated July 7, 2025. Each of the Horizon Transaction and the Sandstorm Transaction is conditional upon completion of the other transaction, which conditions may be waived by Royal Gold. Strategic Rationale The Horizon Transaction represents a compelling value for Horizon shareholders, including: Significant premium of 72% to the closing price of Horizon Shares on July 4, 2025, building on the Company's share price outperformance relative to benchmark copper mining indexes1; All-cash offer with no financing condition, delivering certainty of value and immediate liquidity for Horizon Copper shareholders; Daylights long-dated equity cash flows immediately crystallizing future value for shareholders. Erfan Kazemi, President & CEO of Horizon Copper, commented, "Since its creation in 2022, Horizon's unique position as a junior company holding a world-class copper portfolio has offered shareholders a remarkable investment opportunity. Backed by strong cash flows from our interest in Antamina and the continued progress made by our operating partners at Hod Maden and Oyu Tolgoi, Horizon has been one of the best-performing junior copper stocks over the last 12 months, outperforming benchmark copper mining indexes by over 50%1. The significant cash premium is indicative of the incredible value that underlies Horizon's asset base. I want to thank our dedicated shareholders for their trust in Horizon's management team over the last several years." Bill Heissenbuttel, President and CEO of Royal Gold, commented, "The acquisition of Horizon, in combination with our acquisition of Sandstorm Gold, fits our strategic goal of acquiring high-quality and long-life royalty and streaming interests. Horizon's high-quality assets will contribute to Royal Gold's global portfolio that is unmatched in terms of asset diversification, development and exploration optionality, and organic growth potential." Transaction Summary The Horizon Transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Horizon Arrangement Agreement"). Under the terms of the Horizon Arrangement Agreement, Horizon Copper shareholders (and holders of Horizon restricted share rights) will receive C$2.00 for each Horizon Share (and each Horizon restricted share right) held, implying an 85% premium to the 20-day VWAP of the Horizon Shares, and a 72% premium to the closing price of Horizon Shares on the TSX-V on July 4, 2025. Holders of Horizon warrants and options will receive a cash payment equal to the amount by which the consideration of C$2.00 exceeds the exercise price of such warrant and option, as applicable, for each warrant or option held, as applicable. 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Compared to the Global X Copper Miners ETF and Sprott Junior Copper Miners ETF, Horizon Copper's common shares on the TSX-V have outperformed by 66% and 52%, respectively, between July 3, 2024 and July 3, 2025. Source: S&P Global. About Horizon Copper Horizon Copper is a premier copper company holding a portfolio of unparalleled copper assets, including a 1.66% net profits interest on the Antamina copper mine, exposure to the Oyu Tolgoi copper mine through a 24% equity ownership in Entrée Resources Ltd., and a 30% interest in the copper-gold Hod Maden project. For more information, visit Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking information within the meaning of Canadian securities laws. 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