Sandstorm Gold Ltd. is proposing a consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for up to every five preconsolidation common shares, with the final consolidation ratio to be set by the company's board of directors within the range approved by the shareholders.

"A consolidation would enable Sandstorm to pursue a dual listing on a U.S. stock exchange, which could open the door to a large base of potential new investors," said president and chief executive officer Nolan Watson. "This would be an exciting next step as we continue to grow the company."

If approved, the consolidation would reduce the company's 347,408,871 issued and outstanding common shares to approximately 69,481,774 common shares. The exercise or conversion price of outstanding stock options would be proportionately adjusted based upon the final consolidation ratio. The company's listed warrants would not be consolidated, and the exercise price and/or the number of common shares issuable under the warrants would also be proportionately adjusted based on the final consolidation ratio. The proposed consolidation is subject to the approval of the TSX Venture Exchange and Sandstorm's shareholders.

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