VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2013) - Sandstorm Metals & Energy Ltd. ("Sandstorm") (TSX VENTURE:SND) is pleased to announce the completion of a business combination between Anterra Energy Inc. ("Anterra") and Terrex Energy Inc. ("Terrex"). Effective March 14, 2013, 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 (the "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 $3.26 million by Anterra;
- the delivery of certain equipment from Terrex having a value of approximately $3 million;
- the issuance by Anterra of a $4 million principal amount, 5 year secured convertible debenture (bearing interest at 6% and convertible at $0.10 per Anterra Share);
- the issuance of 20,801,303 Terrex Shares (which shall be exchanged for approximately 6.39 million Anterra Shares); and
- the issuance of 3 million Anterra Shares.
For more information regarding the business combination visit Anterra's website at http://www.anterraenergy.com.
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is the world's first diversified streaming company. Sandstorm provides upfront financing to resource companies that are looking for capital and in return, receives a commodity streaming agreement. This agreement gives Sandstorm the right to purchase a percentage of the commodity produced, for the life of the asset, at a fixed price. Sandstorm has acquired a portfolio of seven commodity streams in copper, palladium, oil, natural gas and coal. Sandstorm plans to grow its production base through the acquisition of additional commodity streams.
Sandstorm Metals & Energy is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed commodity purchase agreements with Colossus Minerals Inc., Donner Metals Ltd., Entrée Gold Inc., Novadx Ventures Corp. and Thunderbird Energy Corp.
For more information visit: www.sandstormmetalsandenergy.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", or similar terminology. Forward-looking information is based on reasonable assumptions that have been made by Sandstorm as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over operations from which Sandstorm will purchase commodities and risks related to those operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of commodities; industry conditions, including fluctuations in the price of commodities, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; as well as those factors discussed in the section entitled "Risks to Sandstorm" in Sandstorm's annual report for the financial year ended December 31, 2011. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm does not provide any representation as to its comparability with other companies in its industry including, but not limited to, Franco-Nevada Corporation, BHP Billiton and Rio Tinto.