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Sandstorm Gold Ltd Enters Into Share Purchase Agreement With Premier Gold Mines Ltd

Tuesday, 29 Jan 2013 09:00am EST 

Sandstorm Gold Ltd announced that it has entered into a share purchase agreement with Premier Gold Mines Ltd. (Premier Gold) to acquire common shares and warrants (the Warrants) of Premier Royalty Inc. (Premier Royalty). Sandstorm has purchased 33,655,821 Common Shares, representing approximately 43.2% of the currently issued and outstanding shares of Premier Royalty, and 6,965,676 Warrants, each exercisable to acquire one common share of Premier Royalty at a price of CAD2.00. Of the Warrants, 5,508,176 expire on December 4, 2016 (subject to expiry acceleration provisions) and 1,457,500 expire on October 7, 2014. Pursuant to the terms of the Agreement, Sandstorm will issue Premier Gold 5,604,277 special warrants (subject to the approval of the Toronto Stock Exchange) each being exercisable into one common share of Sandstorm. Sandstorm has also provided Premier Gold with a temporary six month credit facility up to US$70 million, which will bear interest at a 0.3% premium to the interest rate that the Company would be charged by its lenders if funds were drawn from its revolving debt facility. 

Company Quote

-0.04 -0.82%
30 Sep 2014