Sandstorm Gold plans to repay some revolver debt using stock proceeds

By Marisa Wong

Morgantown, W.Va., July 6 – Sandstorm Gold Ltd. said it plans to reduce the balance of its revolving credit facility using proceeds from an offering of common stock.

On Wednesday the company announced it closed a bought-deal financing for proceeds of $57.5 million.

Funds from the stock offering will also be used for the acquisition of gold and other precious metal streams and for general working capital purposes.

Sandstorm provides upfront financing to gold-mining companies and receives gold streaming agreements in return. The company is based in Vancouver, B.C.

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