Sandstorm Gold Ltd. has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option, for a total of 18,055,000 common shares (the “Common Shares”) sold at a price of US$5.10 per Common Share for aggregate gross proceeds to the Company of approximately US$92 million (the “Offering”).
The Company plans to use the net proceeds of the Offering for future acquisitions of streams and royalties, the repayment, from time to time, of amounts drawn under the Company’s revolving credit facility, and other general working capital purposes.
The Offering was made through a syndicate of underwriters co-led by BMO Capital Markets and Scotiabank. The Offering was completed by way of a prospectus supplement dated September 28, 2022 and an accompanying base shelf prospectus dated September 22, 2022, in all of the provinces and territories of Canada, other than Quebec, and in the United States pursuant a prospectus supplement dated September 28, 2022 and an accompanying base shelf prospectus dated September 22, 2022, under an effective registration statement filed with the U.S. Securities and Exchange Commission under the Canada/U.S. multi-jurisdictional disclosure system (File No. 333-267554).
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 prospectus supplement relating to the Offering and accompanying base shelf prospectus can be found in Canada under the Company’s profile on SEDAR at www.sedar.com, and a copy of the prospectus supplement and accompanying base shelf prospectus can be found in the United States on EDGAR at www.sec.gov. Alternatively, copies of the prospectus supplement may be obtained upon request in Canada by contacting BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at email@example.com, and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by telephone at (800) 414-3627 or by email at firstname.lastname@example.org.
For more information about Sandstorm Gold Royalties, please visit our website at www.sandstormgold.com or email us at email@example.com.
ABOUT SANDSTORM GOLD ROYALTIES
Sandstorm is a gold royalty company that 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 holds a portfolio of 250 royalties, of which 39 of the underlying mines are producing. Sandstorm plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties. For more information visit: www.sandstormgold.com.