Business
Sandstorm Gold Announces Amendment With Entrée Gold, Receives US$5.5 Million In Cash
Sandstorm Gold Announces Amendment With Entrée Gold, Receives US$5.5 Million In Cash ...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"\n\n\n\nSandstorm Gold Announces Amendment With Entrée Gold, Receives US$5.5 Million In Cash\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.prngen2{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prngen3{\nBORDER-BOTTOM:black 1pt solid; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n\n\n\n\n\n\nSandstorm Gold Announces Amendment With Entrée Gold, Receives US$5.5 Million In Cash\nCanada NewsWire\nVANCOUVER, Mar. 1, 2016\n\n\n\nVANCOUVER, Mar. 1, 2016 /CNW/ - Sandstorm Gold Ltd. (\"Sandstorm\" or the \"Company\") (NYSE MKT: SAND, TSX: SSL) has amended its metal credit purchase agreement with Entrée Gold Inc. (\"Entrée\"). In exchange for US$5.5 million in cash and 5.1 million common shares in the capital of Entrée (the \"Consideration\"), Sandstorm has agreed to reduce, by 17%, the amount of metal credits that the Company is contracted to purchase under the metal credit purchase agreement. The Consideration received by Sandstorm represents 17% of the value of the original metal credit purchase agreement completed with Entrée in 2013. \n\nUnder the amended agreement, Sandstorm has the right to purchase metal credits from Entrée equivalent to 5.62% and 4.26% of the gold and silver by-products produced from the Hugo North Extension and Heruga deposits in Mongolia, respectively, and 0.42% of the copper produced from the deposits. \n\nThe original metal credit purchase agreement between Sandstorm and Entrée contemplated certain events that would require Entrée to repay a portion of Sandstorm's upfront deposit. The newly amended agreement maintains these same contractual protections for the benefit of Sandstorm should one of these events occur in the...