VANCOUVER, July 6, 2016 /PRNewswire/ - Sandstorm Gold
Ltd. ("Sandstorm" or the "Company") (NYSE MKT: SAND, TSX: SSL) has
closed its previously announced bought deal financing, including
the exercise in full of the underwriters' over-allotment option. A
total of 12,921,400 common shares of Sandstorm (the "Common
Shares") were sold at a price of US$4.45 per Common Share, for aggregate gross
proceeds of US$57.50 million (the
"Offering").
The Company plans to use the net proceeds from the Offering to
reduce the balance of its revolving credit facility, for the
acquisition of gold and other precious metals streams and for
general working capital purposes.
The Offering was made through a syndicate of underwriters co-led
by National Bank Financial Inc. and BMO Capital Markets. The
Offering was completed by way of a prospectus supplement (the
"Supplement") and an accompanying short form base shelf prospectus
of the Company, in all of the provinces of Canada, other than Quebec, and was offered in the United States pursuant to the Supplement
and an accompanying base shelf prospectus filed as part of an
effective shelf registration statement on Form F-10 filed with the
Securities and Exchange Commission under the multi-jurisdictional
disclosure system adopted by the securities regulatory authorities
in Canada and the United States.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of that jurisdiction.
A copy of the Supplement relating to the Offering in
the United States is available on
EDGAR at www.sec.gov and a copy of the Supplement for the
Offering in Canada is available on
SEDAR at www.sedar.com. Alternatively, copies of the
Supplement may be obtained by contacting National Bank Financial
Inc. at 130 King Street West, 4th Floor Podium,
Toronto, ON M5X 1J9, Tel: (416)
869-6534, Fax: (416) 869-1010.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a gold streaming and royalty company.
Sandstorm provides upfront financing to gold mining companies that
are looking for capital and in return, receives the right to a
percentage of the gold produced from a mine, for the life of the
mine. Sandstorm has acquired a portfolio of 131 streams and
royalties, of which 20 of the underlying mines are producing.
Sandstorm plans to grow and diversify its low cost production
profile through the acquisition of additional streams and
royalties.
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. Forward-looking statements include, but are not limited
to, statements with respect to the Offering, including the terms,
potential completion and expected closing date of the Offering and
the intended use of proceeds of the Offering. 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 "Risk Factors" in the Supplement filed in
Canada in connection with the
Offering available on SEDAR at www.sedar.com and in the United States as part of the Registration
Statement on Form F-10 filed with the SEC and "Risks to Sandstorm"
in Sandstorm's annual report for the financial year ended
December 31, 2015 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.
SOURCE Sandstorm Gold Ltd.