VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/10/13 -- Sandstorm Metals & Energy Ltd. (TSX VENTURE: SND) ("Sandstorm" or the "Company") 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., Entree Gold Inc. and Thunderbird Energy Corp.
For more information visit: www.sandstormmetalsandenergy.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", or similar terminology. Forward-looking information is based on reasonable assumptions that have been made by Sandstorm as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over operations from which Sandstorm will purchase commodities and risks related to those operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of commodities; industry conditions, including fluctuations in the price of commodities, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; as well as those factors discussed in the section entitled "Risks to Sandstorm" in Sandstorm's annual report for the financial year ended December 31, 2012. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm does not provide any representation as to its comparability with other companies in its industry including, but not limited to, Franco-Nevada Corporation, BHP Billiton and Rio Tinto.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sandstorm Metals & Energy Ltd.
President & Chief Executive Officer
Sandstorm Metals & Energy Ltd.
Investor Relations Contact
Most Popular Stories
- Rackspace Ends Talks About Possible Acquisition
- Mercedes Rolls Out S550 Plug-in Hybrid
- Missouri GM Plant Adding 750 jobs
- Poverty Rate Drops for First Time Since 2006
- Cedeno Named USHCC Businessman of the Year
- Aaron Hernandez: I Felt Helpless to Refuse Police
- Can Kobach Keep Taylor's Name on Ballot?
- Parameters Being Drawn for IS Action
- Anheuser-Busch, Visa Voice NFL Disapproval
- Two-thirds of Hispanics Doubt Media Accuracy