(MENAFN - ProactiveInvestors - N.America) Sandstorm Gold (CVE:SSL)(NYSE MKT:SAND)(AMEX:SAND) said Friday it has closed a C150 million bought deal financing, including the full amount of the over-allotment option.
A syndicate of underwriters purchased a total of roughly 15 million units of Sandstorm at a price of C10 each.
Each unit consists of one common share and one third of one share purchase warrant. Every warrant allows the holder to acquire another common share of the company for a price of US14.00 for 5 years.
The gold streaming company provides financing for gold mining companies that are looking for capital in exchange for a gold streaming agreement.
The agreement gives Sandstorm the right to purchase a percentage of the life of mine gold produced, at a fixed price. It has a portfolio of seven gold streams, five of which are producing gold, and three NSR royalties.
The company has completed gold purchase or royalty agreements with Luna Gold Corp., SilverCrest Mines Inc., Rambler Metals and Mining plc, Brigus Gold Corp., and Solitario Exploration & Royalty Corp., among others.