Sandspring Resources Ltd. Announces Completion Of C$25,002,000 Bought Deal Offering
March 30, 2012 -- Sandspring Resources Ltd. (SSP: TSX-V) ("Sandspring" or the "Company") announced that it has completed its previously announced bought deal offering of common shares. The Company issued 23,150,000 common shares (the "Common Shares") at $1.08 per Common Share for gross proceeds of $25.0 million (the "Offering"). The syndicate of underwriters was co-led by RBC Dominion Securities Inc. and Scotia Capital Inc., and included BMO Nesbitt Burns Inc. and Clarus Securities Inc. (collectively the "Underwriters"). Sandspring has granted the Underwriters an option to purchase up to an additional 15% of the Common Shares, exercisable in whole or in part, at any time prior to April 30, 2012. The Underwriters received a 5.5% cash commission in respect of the Offering.