This SSL news came ot this morning before the opening. Should be a good decision longer term for the stock but it will put some pressure on the shares and the warrants between now and May 4, maybe a bit longer. This is going to be a great stock to buy this summer if that turns out to be true
Sandstorm Gold Announces Proposed Share Consolidation
Press Release: Sandstorm Gold Ltd. – 2 hours 51 minutes ago
........Companies:...Sandstorm Gold Ltd. . ..RELATED QUOTES.
.Symbol Price Change
SSL.V 1.71 -0.05
......VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/05/12)- Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX-V: SSL.V - News) is proposing a consolidation of its issued and outstanding common shares ("the Common Shares") on the basis of one (1) post-consolidation Common Share for up to every five (5) pre-consolidation Common Shares (the "Consolidation"), with the final consolidation ratio to be set by the Company's Board of Directors within the range approved by the shareholders.
"A consolidation would enable Sandstorm to pursue a dual listing on a U.S. stock exchange which could open the door to a large base of potential new investors," said President and CEO Nolan Watson. "This would be an exciting next step as we continue to grow the Company."
If approved, the Consolidation would reduce the Company's 347,408,871 issued and outstanding Common Shares to approximately 69,481,774 Common Shares. The exercise or conversion price of outstanding stock options would be proportionately adjusted based upon the final consolidation ratio. The Company's listed warrants would not be consolidated and the exercise price and/or the number of Common Shares issuable under the warrants would also be proportionately adjusted based on the final consolidation ratio. The proposed Consolidation is subject to the approval of the TSX Venture Exchange and Sandstorm's shareholders.
Full details regarding the proposed Consolidation are included in the information circular mailed on April 5, 2012 to all Sandstorm shareholders of record on March 28, 2012 and posted on www.SEDAR.com in connection with the Annual and Special Meeting of Shareholders, which is scheduled to be held on Friday, May 4, 2012. No assurances can be given that the Company will be successful in achieving a listing of its securities on a U.S. exchange.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a growth focused resource based company that seeks to complete gold purchase agreements with companies that have advanced stage development projects or operating mines. A gold purchase agreement involves Sandstorm making an upfront cash payment to its partners and in exchange, Sandstorm receives the right to purchase a percentage of the gold produced for the life of the mine, at a fixed price per ounce. Sandstorm helps other companies in the resource industry grow their business, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed gold purchase agreements with
Luna Gold Corp., SilverCrest Mines Inc., Santa Fe Gold Corp., Rambler Metals and Mining plc, Brigus Gold Corp., Metanor Resources Inc. and Donner Metals Ltd.
For more information visit: sandstormgold.com. |
