RE: Sandstorm Metals agreement for Tennessee prope Thanks Thunder.... here is the complete news release.
Sandstorm Metals agreement for Tennessee properties
2012-12-24 11:40 PT - Property Agreement
Also Property Agreement (C-NDX) NovaDx Ventures Corp
The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an agreement dated Oct. 31, 2012, between Sandstorm Metals & Energy Ltd. and NovaDx Ventures Corp. pursuant to which Sandstorm and NDX have agreed to acquire certain coal properties and assets located in the Campbell and Scott counties, Tennessee, generally known as Mine 12, the Turly rail load out and the Smokey Junction preparation plant (including the Jordan Ridge refuse facility), from National Coal LLC. The purchase price of $8.5-million (U.S.) will be payable by a cash payment of $3-million (U.S.) by Sandstorm, $2-million (U.S.) by the issuance of 4,377,675 shares by Sandstorm and a short-term promissory note issued by a newly incorporated subsidiary of Sandstorm in the amount of $3.5-million (U.S.).
NDX can repay the promissory note under certain terms and will then earn up to a 41.2-per-cent interest in the newly incorporated subsidiary which will hold the assets.