Sandstorm Gold Ltd.: Sandstorm Gold Royalties Announces Early Warrant Exercise Incentive Program to Raise up to $50 Million

About this update from Silver Sands Resources Corp.

[{"type":"text","content":"Sandstorm Gold Ltd.: Sandstorm Gold Royalties Announces Early Warrant Exercise Incentive Program to Raise up to $50 MillionVANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Sandstorm Gold Ltd. (\"Sandstorm Gold Royalties\", \"Sandstorm\" or the \"Company\") (NYSE:SAND) (TSX:SSL) is pleased to announce an Early Warrant Exercise Incentive Program (\"Early Warrant Exercise Program\") for its 15 million outstanding and unlisted share purchase warrants having an exercise price of US$3.50 (\"Exercise Price\") and expiring on October 27, 2020 (the \"Warrants\"). The Warrants were issued in connection with the Company's acquisition of certain silver, copper and gold streams from Yamana Gold Inc. in 2015.The Early Warrant Exercise Program is designed to encourage the early exercise of the Warrants during a 10-day early exercise period expected to commence on April 16, 2020 and terminate on April 27, 2020 (the \"Incentive Period\"). The Company proposes to incentivize the early exercise of the Warrants by offering a reduction in the Exercise Price from US$3.50 to US$3.35 to holders of the Warrants (the \"Warrantholders\") who exercise the Warrants during the Incentive Period.Nolan Watson, Sandstorm's President & CEO remarked, \"The Early Warrant Exercise Program has the potential to remove the overhang of a large block of in-the-money warrants and provide additional capital for future deals. As a growth company, Sandstorm is continually searching for new opportunities to strengthen its portfolio. With this anticipated $50 million in cash from the early warrant exercise, combined with our strong operating cash flows and credit facility, Sandstorm expects to have capital available to propel the company into the next phase of growth.\"All of the Warrantholders have entered into formal support agreements with Sandstorm, pursuant to which they have agreed (subject to the Company receiving regulatory and shareholder approval for the Early Warrant Exercise Program) to exercise their Warrants during the Incentive Period. Assuming exercise of all Warrants during the Incentive Period, Sandstorm expects to receive gross proceeds of US$50.25 million on or before April 27, 2020 (the last day of the Incentive Period). Sandstorm intends to use the proceeds from this program to provide additional capital for potential future deals. The Incentive Program i...

More updates from Silver Sands Resources Corp.