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InnSuites Hospitality Trust (IHT) has released its Fiscal 2025 Definitive Proxy Statement ahead of the 14 August 2025 Annual Meeting. Shareholders of record on 3 July 2025 will vote on four key proposals.

• Proposal 1 鈥� Election of Trustees: Two long-standing trustees, Chairman/CEO James F. Wirth (in place since 1998) and Audit-Committee Chair Leslie T. Kutasi (since 2013), are standing for re-election to three-year terms expiring in Fiscal 2028. The five-member board is staggered; three of the five trustees are classified as independent under NYSE American rules.
• Proposal 2 鈥� Auditor Ratification: The Audit Committee seeks shareholder ratification of BCRG Group as the independent registered public accounting firm for the year ending 31 Jan 2026. BCRG replaced BF Borgers in FY-2025 and billed IHT USD 190,500 in audit and tax fees, up 46% YoY.
• Proposal 3 鈥� Advisory 鈥淪ay-on-Pay鈥� Vote: Shareholders will cast a non-binding vote on FY-2025 executive pay packages. Total FY-2025 compensation for CEO Wirth was USD 126.7 k (flat YoY) while CFO Lange earned USD 112.3 k. Bonuses are tied to hotel Gross Operating Profit metrics; no options or new equity awards were issued.
• Proposal 4 鈥� Say-on-Pay Frequency: The board recommends a triennial advisory vote schedule (every three years).

Corporate governance highlights

• Board attendance was 100% across four meetings and all committee sessions in FY-2025; independent trustees meet annually in executive session.
• Chairman/CEO Wirth and his family entities control 71.3% of outstanding shares and 76.2% including partnership units, giving effective control but potentially limiting minority influence.
• The board operates three fully independent committees (Audit, Compensation, Governance/Nominating). Kutasi is designated the Audit Committee Financial Expert.
• No women currently serve on the board after two female departures in 2019; the Governance Committee has no formal diversity policy.

Compensation & capital allocation

• Executive cash salaries remain modest relative to industry norms; no pensions or perquisites are provided. FY-2025 bonuses totalled USD 10.2 k across executives, driven by hotel GOP out-performance.
• The trustee compensation model is equity-based only: non-employee trustees each received 6,000 restricted shares (USD 1.20/share grant price) vesting monthly.
• Share repurchase programme active since 2001; FY-2025 repurchases were 28,337 shares at an average USD 1.59, leaving authority for ~200 k additional shares.

Related-party & financing matters

• IHT maintains numerous related-party loans and guarantees, including a USD 2 m revolving line with Rare Earth Financial (controlled by the Wirth family) and cross-guarantees on USD 7.9 m Tucson and USD 1.2 m Albuquerque hotel mortgages.
• Total outstanding related-party payables under these facilities were USD 1.15 m at 31 Jan 2025.

Takeaways for investors: All proposals are routine, yet the concentration of ownership, recurring related-party transactions, rising audit fees and absence of board diversity merit attention. Ratification items require simple majority of votes cast; trustee election requires majority of shares present in person or by proxy. Proxies not marked will be voted FOR all management recommendations.

Royal Gold, Inc. (Nasdaq: RGLD) has signed definitive arrangement agreements to acquire Sandstorm Gold Ltd. and Horizon Copper Corp., creating one of the largest North-American precious-metal streaming and royalty companies. The combined transactions (the 鈥淭ransactions鈥�) comprise:

• Sandstorm Gold: all-stock deal valuing Sandstorm at 鈮� US$3.5 billion; exchange ratio of 0.0625 RGLD share for each Sandstorm share, representing a 21% premium to the 20-day VWAP and 17% to the 3 July 2025 NYSE close.
• Horizon Copper: all-cash offer of C$2.00 per share (鈮� US$196 million equity value), an 85% premium to the 20-day VWAP and 72% to the 4 July 2025 TSX-V close.

Strategic rationale

• Adds 40 producing assets, lifting 2025 guidance by ~26% to an incremental 65鈥�80 k GEOs; pro-forma revenue mix estimated at 87% precious metals (75% gold).
• Creates a highly diversified portfolio of 80 cash-flowing and 47 development assets, with no single asset >13% of NAV.
• Strengthens balance sheet and liquidity; management expects low leverage post-close, enabling further accretive growth.
• Provides immediate NAV accretion to RGLD shareholders and increases size/liquidity for Sandstorm investors; Horizon holders receive a substantial cash exit.

Structure & timing

• Both deals executed via court-approved plans of arrangement in British Columbia.
• Closing conditions: shareholder approvals (RGLD majority; Sandstorm 66 鈪�% plus disinterested majority; Horizon 66 鈪�% plus disinterested majority), B.C. Supreme Court approval, regulatory clearances, Sandstorm/Horizon cross-condition which each buyer may waive.
• Targeted closing: Q4-2025; RGLD will issue 鈮�19 million new shares (鈮�23% of pro-forma fully diluted shares).

Key assets added: Mount Milligan, Pueblo Viejo, Cortez, Andacollo, Khoemacau, Wassa (producing); MARA, Hod Maden, Platreef (development). The combined portfolio will total 393 streams/royalties.

Governance & next steps: Boards and independent special committees of all three companies unanimously recommend that shareholders vote in favour. Proxy materials will be filed with the SEC and SEDAR+. A joint conference call is scheduled for 7 July 2025 at 10:00 a.m. ET.

Forward-looking statements highlight customary risks, including approvals, integration, commodity prices, and operator performance.

On July 7, 2025, Royal Gold, Inc. (Nasdaq: RGLD) filed a Form 8-K (Item 7.01) disclosing that it has entered into definitive arrangement agreements to acquire two peers in the precious-metals royalty/streaming space.

Transaction structure: (i) Sandstorm Gold Ltd. will be acquired in an all-stock transaction; (ii) Horizon Copper Corp. will be acquired in an all-cash transaction (together, the 鈥淭ransactions鈥�). The filing does not specify consideration values, exchange ratios or targeted closing dates.

Approvals & process: Completion requires approval from Royal Gold shareholders (via a forthcoming proxy statement), and separate shareholder votes for Sandstorm and Horizon (via SEDAR+ circulars), in addition to customary regulatory clearances. A press release (Ex. 99.1) and an investor presentation (Ex. 99.2) were furnished to provide further details.

Forward-looking statements describe expectations for operational synergies, enhanced growth opportunities and a stronger competitive position, but explicitly outline risks such as failure to obtain shareholder/regulatory approvals, integration challenges, potential adverse business reactions, financing considerations, and exposure to gold, silver and copper price volatility.

No pro-forma financials, purchase prices or earnings guidance are included in this report. The information is furnished, not filed, and therefore is not incorporated by reference into other SEC filings.

• Exhibits: 99.1 Press Release dated July 7 2025; 99.2 Investor Presentation dated July 7 2025; 104 Cover Page Inline XBRL.

In Amendment No. 3 to its Schedule 14D-9, Inozyme Pharma, Inc. (INZY) discloses that BioMarin Pharmaceutical Inc., through its subsidiary Incline Merger Sub, has successfully completed its all-cash tender offer at $4.00 per share for all outstanding INZY common stock.

The offer expired one minute after 11:59 p.m. ET on June 30, 2025, with 45,455,118 shares鈥攁辫辫谤辞虫颈尘补迟别濒测 69.8 % of outstanding shares鈥攙alidly tendered and not withdrawn, thereby meeting the minimum condition. On July 1, 2025, the purchaser accepted and will promptly pay for all validly tendered shares.

Immediately after acceptance, the parties effected a Section 251(h) DGCL merger without a separate shareholder vote. Inozyme survived the merger and became a wholly owned subsidiary of BioMarin. Each remaining share (other than excluded or appraisal-eligible shares) was automatically converted into the right to receive the same $4.00 cash consideration, net of any required withholding taxes.

Following closing, INZY shares ceased trading on the Nasdaq Global Select Market and will be delisted. BioMarin intends to terminate the registration of Inozyme鈥檚 securities and suspend INZY鈥檚 periodic reporting obligations under the Exchange Act as soon as practicable.