|Bid||0.20 x 0|
|Ask||0.21 x 0|
|Day's Range||0.20 - 0.22|
|52 Week Range||0.20 - 0.46|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.20|
Sandspring Resources Ltd. (SSP.V) (SSPXF) (the “Company”) is pleased to announce that due to strong investor interest the board of directors of the Company has approved an increase in the amount of its non-brokered private placement. The placement has been fully-subscribed and the Company now intends to issue 41,000,000 units (each, a “Unit”) at a price Cdn$0.25 per Unit. Each “Unit” consists of one common shares and one share purchase warrant entitling the holder to purchase one additional share at Cdn$0.40 for a period of sixty (60) months. Insiders of the Company have subscribed for a portion of the private placement, and the Company anticipates paying finders’ fees to certain eligible parties who have introduced subscribers to the placement.
Gran Colombia Gold Corp. (GCM.TO) announced today that it has entered into a letter of intent (“LOI”) with Sandspring Resources Ltd. (SSP.V) (SSPXF) (“Sandspring”) pursuant to which it intends to acquire an approximately 15% equity interest in Sandspring (the “Transaction”). This investment in Sandspring will be made by way of the acquisition by Sandspring of the Company’s 30% carried participating interest in the Guia Antigua Mine (the “Project”) in Segovia and a concurrent CA$4.0 million subscription by the Company into Sandspring’s proposed non-brokered private placement as described further below. Gran Colombia will also be entitled to appoint one member to the Board of Directors of Sandspring. Sandspring is a Canadian junior mining company currently moving toward a feasibility study for the multi-million-ounce Toroparu Project in the emerging western Guyana gold district.
Sandspring Resources Ltd. (SSP.V) (SSPXF) (the “Company”) is pleased to announce that it has entered into letters of intent with GA Mine Corp. (“GA Mine”) and Gran Colombia Gold Corp., and its subsidiary Gran Colombia Gold Segovia, S.A. (collectively, “Gran Colombia”), pursuant to which the Company proposes to acquire (the “Transaction”) all exploration, development and mining rights to a 386 hectare area (the “Project Area”) in the Segovia-Remedios mining district of Antioquia, Colombia, that includes the historic silver – gold producing Guia Antigua Mine (the “Project”). The Project Area lies within a mining title in the Segovia area that has been and will continue to be held by Gran Colombia. However, the Project Area lies outside of the areas of Gran Colombia’s principal mining operations in the Segovia area. The Guia Antigua vein that is the current focus of the Project appears to be similar in geology, structure, vein style and mineralogy to other veins in the Segovia mining district.