VANCOUVER, March 29, 2018 /PRNewswire/ - Sandstorm Gold
Ltd. ("Sandstorm" or the "Company") (NYSE American: SAND, TSX: SSL)
announces that the Company's normal course issuer bid ("NCIB") is
being renewed after the existing NCIB expires on April 4, 2018. The NCIB provides Sandstorm with
the option to purchase the Company's common shares from time to
time when Sandstorm's management believes that the common shares
are undervalued by the market. Under the renewed NCIB, Sandstorm
may purchase up to 9,191,777 of its common shares, representing 5%
of the Company's issued and outstanding common shares of
183,823,556 as of March 19, 2018. The
Toronto Stock Exchange ("TSX") has accepted the Company's notice
that it intends to proceed with a NCIB in accordance with TSX
rules. Purchases under the renewed NCIB may commence on
April 5, 2018 and will terminate on
the earlier of April 4, 2019, the
date that Sandstorm completes its purchases pursuant to the NCIB as
filed with the TSX, or the date of notice by Sandstorm of
termination of the NCIB.
All purchases under the NCIB will be executed on the open market
through the facilities of the TSX or alternative Canadian trading
platforms and through the facilities of the NYSE American or
alternative trading platforms in the
United States of America. Purchases will be made at the
market price of the common shares at the time of acquisition and
may be funded by Sandstorm's working capital. Any common shares
acquired by the Company under the NCIB will be cancelled.
Sandstorm's average daily trading volume on the TSX during the last
six calendar months was 365,501 common shares. Under the rules of
the TSX, daily purchases on the TSX will not exceed 91,375 common
shares, subject to the Company's ability to make block purchases.
The maximum number of shares which can be purchased per day on the
NYSE American will be 25% of the average daily trading volume for
the four calendar weeks preceding the date of purchase, subject to
certain exceptions for block purchases.
The Company has purchased 4,106,772 common shares pursuant to a
NCIB in the last twelve months at a weighted average price of
C$5.50 per common share on the TSX
and alternates and approximately US$4.29 per common share on the NYSE American and
alternates.
Sandstorm has filed a NI 43-101 technical report entitled "Hod
Maden Project Mineral Resource Estimate" with an effective date of
March 29, 2018. This report is
available on Sandstorm's SEDAR profile at www.sedar.com. The full
Pre-Feasibility Study results and the corresponding NI 43-101
report is expected to be completed within the next quarter.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy securities in the United States, no shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a gold royalty company. Sandstorm
provides upfront financing to gold mining companies that are
looking for capital and in return, receives the right to a
percentage of the gold produced from a mine, for the life of the
mine. Sandstorm has acquired a portfolio of 175 royalties, of which
21 of the underlying mines are producing. Sandstorm plans to grow
and diversify its low cost production profile through the
acquisition of additional gold royalties.
For more information visit: www.sandstormgold.com
CAUTIONARY STATEMENTS TO U.S. SECURITYHOLDERS
The financial information included or incorporated by reference
in this press release or the documents referenced herein has been
prepared in accordance with International Financial Reporting
Standards as issued by the International Accounting Standards
Board, which differs from US generally accepted accounting
principles ("US GAAP") in certain material respects, and thus are
not directly comparable to financial statements prepared in
accordance with US GAAP.
Information contained or referenced in this press release or in
the documents referenced herein concerning the properties,
technical information and operations of Sandstorm has been prepared
in accordance with requirements and standards under securities
laws, which differ from the requirements of US securities laws. The
terms "mineral resource", "measured mineral resource", "indicated
mineral resource" and "inferred mineral resource" used in this or
in the documents incorporated by reference herein are mining terms
as defined in accordance with NI 43-101 under guidelines set out in
the Definition Standards for Mineral Resources and Mineral Reserves
adopted by the Canadian Institute of Mining, Metallurgy and
Petroleum Council on 11 December
2005. While the terms "mineral resource", "measured mineral
resource", "indicated mineral resource" and "inferred mineral
resource" are recognized and required by securities laws other than
the requirements of US securities laws, they are not recognized by
the SEC. Disclosure of contained ounces are or may be permitted
disclosure under regulations applicable to Sandstorm; however, the
SEC normally only permits issuers to report resources as in place
tonnage and grade without reference to unit of production measures.
As such, certain information contained in this document or in the
documents incorporated by reference herein concerning descriptions
of mineralization and mineral resources under these standards may
not be comparable to similar information made public by US
companies subject to reporting and disclosure requirements of the
SEC.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements", within
the meaning of the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation, concerning
the business, operations and financial performance and condition of
Sandstorm. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the
estimation of mineral reserves and resources, realization of
mineral reserve estimates, and the timing and amount of estimated
future production. 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 statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the actual results, performances or achievements of Sandstorm
to be materially different from future results, performances or
achievements expressed or implied by such statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which Sandstorm will operate in the future,
including the price of gold and anticipated costs. Certain
important factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, amongst others, gold price volatility,
discrepancies between actual and estimated production, mineral
reserves and resources and metallurgical recoveries, mining
operational and development risks relating to the parties which
produce the gold Sandstorm will purchase, regulatory restrictions,
activities by governmental authorities (including changes in
taxation), currency fluctuations, the global economic climate,
dilution, share price volatility and competition.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important 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 such forward-looking statements, including but not
limited to: the impact of general business and economic conditions,
the absence of control over mining operations from which Sandstorm
will purchase gold and risks related to those mining 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, risks in the
marketability of minerals, fluctuations in the price of gold,
fluctuation in foreign exchange rates and interest rates, stock
market volatility, 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,
2017 and the Company's annual information form dated
March 29, 2017 available at
www.sedar.com. Although Sandstorm has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Sandstorm does not
undertake to update any forward looking statements that are
contained or incorporated by reference, except in accordance with
applicable securities laws.
SOURCE Sandstorm Gold Ltd.