Monday, April 03, 2017 11:24:18 AM
Sandstorm Gold Announces Record Gold Production In Q1 2017, Renews NCIB
Vancouver, British Columbia | April 3, 2017
Sandstorm Gold Ltd. (“Sandstorm” or the “Company”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce that the Company has sold approximately 15,500 attributable gold equivalent ounces1 during the first quarter of 2017, a record for the Company. The attributable gold equivalent ounces were generated from 20 streams and royalties.
In addition, the Toronto Stock Exchange (“TSX”) has accepted the Company’s notice that it intends to proceed with a normal course issuer bid (“NCIB”) in accordance with TSX rules. Under the NCIB, Sandstorm may purchase up to 7,597,730 of its common shares, representing 5% of the Company’s issued and outstanding common shares of 151,954,615 as of March 22, 2017.
Purchases under the NCIB may commence on April 5, 2017 and will terminate on the earlier of April 4, 2018, the date that Sandstorm completes its purchases pursuant to the NCIB as filed with the TSX, or the date of notice by Sandstorm of termination of the NCIB. All purchases under the NCIB will be executed on the open market through the facilities of the TSX or alternative Canadian trading platforms and will be made at the market price of the common shares at the time of acquisition. The purchases will be funded by Sandstorm’s working capital and any common shares acquired by the Company under the NCIB will be cancelled. Sandstorm’s average daily trading volume on the TSX during the last six calendar months was 521,645 commons shares. Daily purchases will not exceed 130,411 common shares, subject to the Company’s ability to make block purchases under the rules of the TSX. The Company has purchased 619,999 common shares pursuant to a NCIB in the last twelve months at a weighted average price of C$4.938 per common share.
The NCIB provides Sandstorm with the option to purchase the Company’s common shares from time to time when Sandstorm’s management believes that the common shares are undervalued by the market.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, no shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
http://www.sandstormgold.com/news/2017/index.php?&content_id=524
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