Sandstorm Metals & Energy Ltd. has entered into purchase agreements to acquire copper and natural gas at development assets located in Canada and the United States of America. These acquisitions further establish Sandstorm Metals & Energy as the world's first diversified commodity streaming company.
Sandstorm Metals & Energy has:
Entered into a copper purchase agreement with Donner Metals Ltd. to acquire an amount of copper equal to 17.5 per cent of the copper produced at the Bracemac-McLeod development property located in Matagami, Que., and operated by Xstrata Canada Corp. Donner is the owner of a 35-per-cent joint venture interest in the Bracemac-McLeod property;
Entered into a natural gas purchase agreement with Thunderbird Energy Corp. to acquire 35 per cent of all natural gas produced from Thunderbird's Gordon Creek project located in Utah, United States;
Engaged Cormark Securities Inc. as co-lead underwriter with National Bank Financial, and a syndicate including BMO Capital Markets, Canaccord Genuity Corp., Paradigm Capital Inc. and Casimir Capital Ltd. to raise gross proceeds of approximately $25-million.
De prijs van het aandeel is nu bij grote omzetten lager op C$ 0,51/2 en ca, 2,4 miljoen sts omzet.
Er kan nu worden ingeschreven op C$ 0,55 , maar komt dan 1 warrant bij en daarmee kun je later voor C$ 0,70 bijkopen.
Daarom verkopen bestaande aandeelhouders hun stukken en schrijven.
Het deal zal (daar) met de middag alweer dicht gaan. Het geld, de C$ 25 miljoen is al binnen.
Wij hadden zojuist contact met hen.
Als straks de financiering rond is zal het herstel er ook zijn, voor enkele centen 1 warrant erbij.
Hier de offiële
Subject: Sandstorm Base Metals and Energy Financing -
Issuer:
Sandstorm Metals & Energy Ltd. (the “Company”).
Offering:
Treasury offering of 45,500,000 units (the “Issued Units”) before giving effect to the Over-Allotment Option.
Issue Price:
$0.55 per Issued Unit.
Gross Proceeds:
$25,025,000
Issued Units:
Each Issued Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one Common Share of the Company for a period expiring December 23, 2012 at an exercise price of US$0.70.
Over-Allotment Option:
The Company has granted the Underwriters an option, exercisable at the Issue Price at any time until 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering (6,825,000 Issued Units to cover over-allotments, if any.
Use of Proceeds:
The net proceeds of the Offering will be used to acquire one copper stream and one natural gas stream and for working capital purposes.
Offering Basis:
Offered publicly in (i) each of the provinces of Canada, except Quebec, by way of a short form prospectus; (ii) the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended; and (iii) jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.
Underwriting Basis:
“Bought deal” subject to conventional bought deal termination provisions to be included in a definitive underwriting agreement.
Listing:
Application will be made to list the shares underlying the Issued Units and the Warrants on the TSX Venture Exchange (the “TSXV”). The existing common shares of the Company are listed on the TSXV under the symbol “SND” and the existing warrants, with which the Warrants will trade, are listed on the TSXV under the symbol “SND.WT”.
Eligibility:
Eligible for RRSPs, RRIFs, RESPs, DPSPs and TFSAs.
Black-Out Period:
The Company agrees not to issue any common shares or securities convertible into common shares for a period of 90 days from the closing of the Offering without the prior written consent of the Lead Underwriter except in conjunction with: (i) the grant or exercise of stock options and other similar issuances pursuant to the stock option plan of the Company and other share compensation arrangements, including the grant and issuance of restricted share rights pursuant to the restricted share unit plan of the Company; and (ii) the exercise of outstanding warrants or convertible debt, in all cases such consent not to be unreasonably withheld.
Closing Date:
On or before August 3, 2011.
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