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Sandstorm Gold Royalties Announces Sale of Select Non-Core, Non-Precious Metals Assets and Renews Normal Course Issuer Bid
Sandstorm Gold Royalties Announces Sale of Select Non-Core, Non-Precious Metals Assets and Renews...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"\n \n \n \n Sandstorm Gold Royalties Announces Sale of Select Non-Core, Non-Precious Metals Assets and Renews Normal Course Issuer Bid\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n DESIGNATED PRESS RELEASE\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 2, 2024\n \n \n /CNW/ - Sandstorm Gold Ltd. (\"Sandstorm Gold Royalties\", \"Sandstorm\" or the \"Company\") (NYSE: SAND) (TSX: SSL) is pleased to announce that the Company has signed a definitive asset purchase agreement to sell a collection of non-core, non-precious metals royalties for cash proceeds of\n \n $21.0 million\n \n plus the retention of the next\n \n $10 million\n \n in proceeds from the Copper Mountain Royalty (as defined below). In conjunction with accelerated deleveraging driven by recent non-core asset sales and the current commodity price environment, Sandstorm's Board of Directors has approved the use of the renewed Normal Course Issuer Bid (\"NCIB\") allowing the Company to purchase its common shares from time to time when management believes the common shares are undervalued by the market (further details below). All dollar figures are in US dollars unless otherwise stated.\n \n \n \n \n \n \n \n \n \n \n Sale of Non-Core, Non-Precious Metals Royalty Package\n \n \n \n Sandstorm has signed a definitive asset purchase agreement with Evolve Strategic Element Royalties Ltd. (\"Evolve\") for the sale of eight royalties for cash consideration of\n \n $21.0 million\n \n (the \"Cash Purchase Price\") plus the retention of the next\n \n $10 million\n \n in proceeds from the Copper Mountain Royalty (the \"Transaction\"). The Transaction is part of the Company's previously announced plan to monetize certain non-core assets to expedite debt repayment. Upon completion of the Transaction, Sandstorm will have sold over\n \n $50 million\n \n of non-core royalty and equity investments since the third quarter of 2023, including approximately\n \n $40 million\n \n in cash consideration. While further monetization of the Company's inve...