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Sandstorm Gold Announces Closing of Mariana Acquisition, Adds Hot Maden Interest to Royalty Portfolio
Jul. 04, 2017 08:45AM PST
Precious MetalsSandstorm Gold Ltd. (“Sandstorm” or the “Company”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce that the Scheme of Arrangement (the “Scheme”) to acquire Mariana Resources Limited (“Mariana”) has become effective in accordance with its terms, following the sanction of the Scheme by the Guernsey Court on June 26, 2017 and the delivery of the sanction …
Sandstorm Gold Ltd. (“Sandstorm” or the “Company”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce that the Scheme of Arrangement (the “Scheme”) to acquire Mariana Resources Limited (“Mariana”) has become effective in accordance with its terms, following the sanction of the Scheme by the Guernsey Court on June 26, 2017 and the delivery of the sanction court order to the Guernsey Registry earlier today. Accordingly, the acquisition has been completed and Mariana has become a wholly owned subsidiary of Sandstorm.
As quoted in the press release:
Sandstorm’s President & CEO, Nolan Watson remarked, “Today is an exciting day for Sandstorm shareholders as this deal is truly transformative for the Company. Hot Maden is one of the highest grade undeveloped projects in the world and will add high-margin ounces to Sandstorm’s production profile. Opportunities to acquire anchor assets like Hot Maden are rare and with the exploration potential that we see on the property, we anticipate that our 30% interest will continue to grow in value over time.”
