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.
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