Sandstorm Metals & Energy Announces Approval and Effective Date of Share Consolidation
Vancouver, British Columbia | May 10, 2013
Sandstorm Metals & Energy Ltd. (“Sandstorm” or the “Company”) (TSX-V: SND) announces that its shareholders have approved the proposed ten (10) for one (1) consolidation of the Company’s common shares (“Common Shares”) (the “Consolidation”). The shareholders voted in favour of the Consolidation at the shareholder’s meeting held today.
The Company will give effect to the Consolidation at 12:01 a.m., Wednesday, May 15, 2013. The Company’s post-consolidation Common Shares will be posted for trading on the TSX Venture Exchange at the opening Wednesday, May 15, 2013 under the current symbol “SND” and new CUSIP number of 80013L308.
The 333,360,280 Common Shares issued and outstanding prior to the Consolidation will be consolidated to approximately 33,336,028 Common Shares. If, as a result of the Consolidation, a Shareholder would otherwise be entitled to a fraction of a post-Consolidation Common Share, the number of post-Consolidation Common Shares will be rounded to the nearest whole number. The Company’s currently outstanding stock options and restricted share rights will be adjusted on the same basis with proportionate adjustments being made to the stock option exercise prices.
Sandstorm will mail letters of transmittal to the registered holders of its Common Shares, requesting that they forward their pre-consolidation Common Share certificates to the Company’s transfer agent, Computershare Investor Services Inc., for exchange for new Common Share certificates representing their Common Shares on a post-consolidation basis.
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is the world’s first diversified streaming company. Sandstorm provides upfront financing to resource companies that are looking for capital and in return, receives a commodity streaming agreement. This agreement gives Sandstorm the right to purchase a percentage of the commodity produced, for the life of the asset, at a fixed price. Sandstorm has acquired a portfolio of four commodity streams in copper, palladium and natural gas. Sandstorm plans to grow its production base through the acquisition of additional commodity streams.
Sandstorm Metals & Energy is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed commodity purchase agreements with Colossus Minerals Inc., Donner Metals Ltd., Entrée Gold Inc. and Thunderbird Energy Corp.