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Franco-Nevada Adds To Its U.S. Energy Interests, Initiates ATM Equity Program & Provides Details For Release Of Q2 Results


Friday, 19 Jul 2019 

July 19 (Reuters) - Franco-Nevada Corp ::FRANCO-NEVADA ADDS TO ITS U.S. ENERGY INTERESTS, INITIATES ATM EQUITY PROGRAM & PROVIDES DETAILS FOR RELEASE OF Q2 RESULTS.FRANCO-NEVADA CORP - TO ACQUIRE FROM RANGE RESOURCES CORPORATION AN OVERRIDING ROYALTY INTEREST ON ACREAGE IN MARCELLUS SHALE.FRANCO-NEVADA CORP - GROSS PURCHASE PRICE OF $300 MILLION.FRANCO-NEVADA CORP - PURCHASE WILL BE FINANCED WITH A COMBINATION OF CASH ON HAND AND FUNDS DRAWN FROM CORPORATION'S REVOLVING CREDIT FACILITY.FRANCO-NEVADA CORP - NET DEBT FOLLOWING INVESTMENT WILL BE APPROXIMATELY $335 MILLION.FRANCO-NEVADA CORP - ACQUISITION IS IMMEDIATELY ACCRETIVE, ADDS TO FRANCO-NEVADA'S LONG-TERM CASH FLOW PROFILE.FRANCO-NEVADA CORP - FRANCO-NEVADA'S REVENUE IS STILL PROJECTED TO EXCEED 80% FROM GOLD EQUIVALENT OUNCES THROUGH 2023..FRANCO-NEVADA CORP - CORPORATION IS EXPECTED TO HAVE APPROXIMATELY $1 BILLION IN AVAILABLE CAPITAL AFTER CLOSING.FRANCO-NEVADA CORP - ESTABLISHED ATM PROGRAM THAT ALLOWS CORPORATION TO ISSUE UP TO $200 MILLION WORTH OF COMMON SHARES FROM TREASURY.FRANCO-NEVADA - INTENDS TO USE NET PROCEEDS FROM ATM PROGRAM FOR FUNDING ROYALTY AND STREAM ACQUISITION, OTHERS. 

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