Yamana Gold (TSX: YRI; NYSE: AUY) has completed its previously arranged sale of a portfolio of royalty interests to Nomad Royalty Company for total consideration of $65 million.

The sale agreement also includes the contingent payment to be received upon declaration of commercial production at the Deep Carbonates project, at the Gualcamayo gold mine in Argentina, which Yamana sold in 2018.

Yamana has received an initial upfront cash payment of $10 million, as well as $45 million in common shares of Nomad at a price of C$0.90 per share. Yamana has the right to receive a further $10 million through a deferred cash payment that may be paid in cash or common shares of Nomad.

Nomad, formerly known as Guerrero Ventures, is set to list on the Toronto Stock Exchange beginning Friday.

The sale provides Yamana with a “meaningful stake in a new precious metals royalty company that has a strong and diversified asset base,” the company said.

On closing of the transaction, Yamana will have a 13% stake in Nomad and can nominate one person to join Nomad’s board of directors.

Shares of Yamana Gold were up 2.6% at market open Thursday. The Canadian miner has a market capitalization of C$6.8 billion.