Early Warning Report SANDSTORM FILES EARLY WARNING REPORT
Pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues, Sandstorm is announcing the acquisition of an aggregate of 3,553,500 common shares (the “Entre Acquired Shares”) of Entre Resources Ltd. (“Entre”), representing approximately 2% of the outstanding common shares of Entre (the “Entre Shares”).
Prior to the acquisition of the Entre Acquired Shares, Sandstorm held 25,090,380 Entre Shares and warrants to purchase an additional 457,317 Entre Shares (“Entre Warrants”), representing approximately 14.4% of the outstanding Entre Shares on a non-diluted basis. Assuming the exercise of all 457,317 Entre Warrants held by the Company, the Company would have previously held an aggregate of 25,547,697 Entre Shares, representing approximately 14.6% of the outstanding Entre Shares (on a partially diluted basis). Upon completion of the acquisition of the Entre Acquired Shares, an aggregate 28,643,880 Entre Shares are now owned directly by Sandstorm, representing approximately 16.4% of the outstanding Entre Shares. Assuming the exercise of the Company´s 457,317 Entre Warrants, the Company would then hold 29,101,197 Entre Shares, representing approximately 16.6% of the outstanding Entre Shares (on a partially diluted basis).
The Entre Acquired Shares were acquired by Sandstorm on the open market over the facilities of the Toronto Stock Exchange and other published markets for the Entre Shares at prices ranging from C$0.49 to C$0.55 per Entre Acquired Share. The acquisition of the Entre Acquired Shares by Sandstorm was effected for investment purposes. Sandstorm may from time to time acquire additional securities of Entre, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.
The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on Entre’s SEDAR profile at www.sedar.com.