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News Breaks | | | | March 15, 2013 | | 09:33 EDT |  | SAND | Sandstorm Metals announces Terrex and Anterra business combination
Sandstorm Metals & Energy announced the completion of a business combination between Anterra Energy and Terrex Energy. Effective March 14, Anterra acquired 100% of the issued and outstanding common shares in the capital of Terrex, in exchange for Class A common shares in the capital of Anterra. In connection with the completion of the business combination, Terrex and Anterra have entered into a settlement agreement with Sandstorm. Under the Settlement Agreement, the hydrocarbon purchase agreement between Sandstorm and Terrex has been terminated in exchange for the following consideration to Sandstorm: a cash payment of $3.26M by Anterra; the delivery of certain equipment from Terrex having a value of approximately $3M; the issuance by Anterra of a $4M principal amount, 5 year secured convertible debenture; the issuance of 20.8M Terrex Shares, which shall be exchanged for approximately 6.39M Anterra Shares; and the issuance of 3M Anterra Shares. | |
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News For SAND From The Last 14 Days Check below for free stories on SAND the last two weeks. |
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| May 8, 2013 | | 18:29 EDT |  | SAND | Sandstorm Gold reports Q1 revenue $15.4M
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