As of the date of this press release, holders of a total of 6.85 million Sandstorm Metals Shares, representing approximately 19.8% of the issued and outstanding shares, have entered into lock-up agreements committing them to vote in favour of the Arrangement.Sandstorm's CEO Nolan Watson commented, "Sandstorm's management team is excited to be able to focus all of our future time and attention on gold. The acquisition of Sandstorm Metals will provide Sandstorm Gold shareholders with approximately US$4 million of annual royalty revenue from operating mines as well as royalties on advanced exploration and development assets including Canadian Zinc Corporation's Prairie Creek Mine and Entrée Gold Inc.'s Hugo North Extension and Heruga deposits. In addition, Sandstorm Gold will be able to benefit from the use of Sandstorm Metals non-capital loss carry forwards for tax purposes as well as cash expected to be received upon the monetization of non-core assets including various coal, oil and natural gas assets." Mr. Watson added, "Sandstorm Gold has significant cash on hand, significant cash flow from operations and is debt free. We are in a tremendous position to be able to grow the company through the acquisition of gold streams and royalties and we will now have our entire team focused solely on this task."
Sandstorm Gold Announces Plan Of Arrangement To Acquire Sandstorm Metals & Energy
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts