Sandstorm Gold Completes CDN $150 Million Bought Deal Financing
September 07 2012 - 8:54AM
Marketwired
Sandstorm Gold Ltd. (TSX VENTURE:SSL)(NYSE MKT:SAND)(NYSE
Amex:SAND) ("Sandstorm" or the "Company") has completed its
previously announced bought deal financing, including the full
amount of the over-allotment option, for aggregate gross proceeds
of approximately Cdn $150 million. A syndicate of underwriters
purchased an aggregate of 15,007,500 units of Sandstorm at a
purchase price of Cdn $10.00 per unit. Each unit consists of one
common share of Sandstorm and one third of one common share
purchase warrant. Each whole common share purchase warrant entitles
the holder to acquire one common share of Sandstorm at a price of
US$14.00 at any time prior to September 7, 2017.
The securities offered have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act") or any U.S. state securities laws, and may
not be offered or sold in the United States or to, or for the
account or benefit of, United States persons absent registration or
any applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a gold streaming company. Sandstorm
provides upfront financing for gold mining companies that are
looking for capital. In return, Sandstorm receives a gold streaming
agreement. This agreement gives Sandstorm the right to purchase a
percentage of the life of mine gold produced, at a fixed price.
Sandstorm is a non-operating gold mining company with a portfolio
of seven gold streams, five of which are producing gold, and three
NSR royalties. Sandstorm plans to grow and diversify its low cost
production profile through the acquisition of additional gold
streams.
Sandstorm is focused on low cost operations with excellent
exploration potential and strong management teams. Sandstorm has
completed gold purchase or royalty agreements with Luna Gold Corp.,
SilverCrest Mines Inc., Santa Fe Gold Corp., Rambler Metals and
Mining plc, Brigus Gold Corp., Metanor Resources Inc., Donner
Metals Ltd., Magellan Minerals Ltd., Solitario Exploration &
Royalty Corp. and Ely Gold & Minerals Inc.
For more information visit: www.sandstormgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements", within
the meaning of the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation, concerning
the business, operations and financial performance and condition of
Sandstorm Gold, Ltd. ("Sandstorm"). Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold, the estimation of mineral reserves and
resources, realization of mineral reserve estimates, the timing and
amount of estimated future production. Forward-looking statements
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "estimate",
"anticipate", "believe", "continue", "plans", or similar
terminology.
Forward-looking statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performances or achievements of Sandstorm
to be materially different from future results, performances or
achievements expressed or implied by such statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which Sandstorm will operate in the future,
including the price of gold and anticipated costs. Certain
important factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, amongst others, gold price volatility,
discrepancies between actual and estimated production, mineral
reserves and resources and metallurgical recoveries, mining
operational and development risks relating to the parties which
produce the gold Sandstorm will purchase, regulatory restrictions,
activities by governmental authorities (including changes in
taxation), currency fluctuations, the global economic climate,
dilution, share price volatility and competition.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the
actual results, level of activity, performance or achievements of
Sandstorm to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: the impact of general business and economic conditions,
the absence of control over mining operations from which Sandstorm
will purchase gold and risks related to those mining operations,
including risks related to international operations, government and
environmental regulation, actual results of current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans continue to be refined, risks in the
marketability of minerals, fluctuations in the price of gold,
fluctuation in foreign exchange rates and interest rates, stock
market volatility, as well as those factors discussed in the
section entitled "Risks to Sandstorm" in Sandstorm's annual report
for the financial year ended December 31, 2011 available at
www.sedar.com. Although Sandstorm has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Sandstorm does not
undertake to update any forward looking statements that are
contained or incorporated by reference, except in accordance with
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sandstorm Gold Ltd. Nolan Watson President & Chief
Executive Officer (604) 689-0234 Sandstorm Gold Ltd. Denver Harris
Investor Relations Contact (604) 628-1178 www.sandstormgold.com
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