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eBook details

• Title: Sandstorm Resources Announces Proposed Spin-out of Sandstorm Energy & Base Metals Ltd
• Author : ENP Newswire
• Release Date : January 26, 2010
• Genre: Business & Personal Finance,Books,
• Pages : * pages
• Size : 61 KB

Description

ENPNewswire-26 March 2010-Sandstorm Resources Announces Proposed Spin-Out Of Sandstorm Energy & Base Metals Ltd(C)2010 ENPublishing - http://www.enpublishing.co.uk Release date- 25032010 - Vancouver, British Columbia - Sandstorm Resources Ltd. ('Sandstorm Resources' or the 'Corporation') (TSX-V: SSL) is pleased to announce its intention to spin-out its option on the Eagle Lake uranium property owned by Eagle Plains Resources Ltd. (the 'Eagle Lake Property') located in Saskatchewan, Canada into a newly incorporated, wholly-owned British Columbia subsidiary of Sandstorm Resources, Sandstorm Energy & Base Metals Ltd. ('Sandstorm Base Metals'). Upon completion of the transfer of the Eagle Lake Property and working capital in the amount of C$500,000 to Sandstorm Base Metals, Sandstorm Resources intends to distribute 100% of the common shares of Sandstorm Base Metals it receives to Sandstorm Resources shareholders on a pro rata basis (the 'Spin-Out Transaction'). The TSX Venture Exchange ('TSXV') has conditionally approved the listing of the common shares of Sandstorm Base Metals upon completion of the Spin-Out Transaction, subject to receipt of Sandstorm Resources shareholder approval, confirmation of adequate public distribution and receipt of final documentation.

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