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New Dimension Completes Acquisition of Santa Cruz Gold and Silver Properties and Closes Oversubscribed Private Placement
New Dimension Completes Acquisition of Santa Cruz Gold and Silver Properties and Closes Ov...
About this update from Capella Minerals Limited
[{"type":"text","content":"\n\n\n\nNew Dimension Completes Acquisition of Santa Cruz Gold and Silver Properties and Closes Oversubscribed Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 15, 2018\n\n\n\nTSX-V: NDR\n\n\n\nVANCOUVER, May 15, 2018 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the \"Company\" or \"New Dimension\") is pleased to announce that it has acquired a 100% interest in the Las Calandrias, Los Cisnes, and Sierra Blanca high grade gold-silver projects located in Santa Cruz province, Argentina (the \"Transaction\") from Sandstorm Gold Ltd. (TSX: SSL, NYSE American: SAND)(\"Sandstorm\"). The Transaction was announced on February 20, 2018.\n\nKey Points:\n\n\nAcquisition of 86,000 hectares of highly prospective, advanced-stage gold-silver exploration properties in mining-favourable Santa Cruz, Argentina\nNew leadership with appointment of former members of management of Sandstorm's subsidiary, Mariana Resources Limited (\"Mariana Resources\")\nCompleted financing of $3.8M providing capital to advance exploration in Argentina, including drill-ready targets at the Las Calandrias and Los Cisnes Project\nFiled an updated NI 43-101 compliant technical report for the gold-silver mineral resource estimate at the flagship Las Calandria Project\nShare-restructuring and addition of Sandstorm as major shareholder and supporter of New Dimension\n\nAcquisition of Santa Cruz PropertiesNew Dimension has acquired a 100% interest in the Santa Cruz Properties through an agreement dated February 19, 2018 amongst Sandstorm, New Dimension and certain subsidiaries of each entity.   The agreement is available on the Company's SEDAR profile at www.sedar.com. Consideration for the acquisition is payable as:\n\n\nA $400,000 amount payable to Sandstorm in cash or shares at New Dimension's election on each anniversary of the acquisition, until December 31, 2032 or earlier if certain events occur, including commencement of commercial production;\na 2% net smelter returns royalty (\"NSR\") on each of the Santa Cruz Properties, pursuant to NSR agree...