Sandstorm Gold invests in company as part of $55 million financing
By Devika Patel
Knoxville, Tenn., Feb. 15 - Entree Gold Inc. said it has arranged a C$10 million private placement of stock with Sandstorm Gold Ltd. The deal is part of a $55 million financing package with the investor.
The company will sell 17,857,142 common shares at C$0.56 per share. The price per share represents a 1.75% discount to the Feb. 14 closing share price of C$0.57.
Settlement is expected March 1.
Entree Gold also said the investor has agreed to a $40 million equity participation and funding agreement and will pay the company a $5 million payment for a 0.4% net smelter return royalty on the Ann Mason and Blue Hill deposits in Nevada.
Based in Vancouver, B.C., Entree is a gold exploration company.
| Issuer: | Entree Gold Inc.
|
| Issue: | Common stock
|
| Amount: | C$10 million
|
| Shares: | 17,857,142
|
| Price: | C$0.56
|
| Warrants: | No
|
| Investor: | Sandstorm Gold Ltd.
|
| Pricing date: | Feb. 15
|
| Settlement date: | March 1
|
| Stock symbol: | Toronto: SSL
|
| Stock price: | C$0.57 at close Feb. 14
|
| Market capitalization: | C$72.17 million
|
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