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Sandstorm Gold Ltd (2)
Symbol SSL
Shares Issued 192,206,548
Close 2022-04-05 C$ 10.51
Recent Sedar Documents

Sandstorm Gold to renew share buyback

2022-04-05 12:25 ET - News Release

An anonymous director reports

SANDSTORM GOLD ROYALTIES RENEWS NORMAL COURSE ISSUER BID

Sandstorm Gold Ltd. will renew its normal course issuer bid after the existing NCIB expires on April 6, 2022. The current NCIB provides Sandstorm with the option to purchase up to 19.1 million of 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 18.9 million of its common shares, representing approximately 10 per cent of the company's issued and outstanding common shares of 192,224,215 as of March 31, 2022, less those common shares held by the company's directors and senior officers. The new NCIB also provides Sandstorm with the option to purchase its common shares from time to time when Sandstorm's management believes that the common shares are undervalued by the market. The Toronto Stock Exchange has accepted the company's notice that it intends to proceed with an NCIB in accordance with TSX rules. Purchases under the renewed NCIB may commence on April 7, 2022, and will terminate on the earlier of April 6, 2023, 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 New York Stock Exchange or alternative trading platforms in the United States. Purchases will be made at the market price of the common shares at the time of acquisition and may be financed 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 270,139 common shares. Under the rules of the TSX, subject to the company's ability to make block purchases, daily purchases on the TSX under the NCIB will not exceed 67,534 common shares, which represents 25 per cent of the average daily trading volume on the TSX during the last six calendar months. The maximum number of common shares that can be purchased per day on the NYSE will be 25 per cent of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases.

The actual number of common shares that may be purchased and the timing of such purchases will be determined by the company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors.

In the last 12 months, the company has purchased 4,651,049 common shares pursuant to its NCIB at a weighted average price of approximately $7.95 per common share on the TSX and alternatives and approximately $6.19 (U.S.) per common share on the NYSE and alternatives.

About Sandstorm Gold Ltd.

Sandstorm is a gold royalty company that 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 230 royalties, of which 29 of the underlying mines are producing. Sandstorm plans to grow and diversify its low-cost production profile through the acquisition of additional gold royalties.

We seek Safe Harbor.

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