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Press Releases

Mar 05, 2010

Sandspring Resources Ltd. to Raise $10,000,000 Through Bought-Deal Offering

Sandspring Resources Ltd. (TSX- V:SSP) (the "Company") today announced that it has entered into an agreement with Mackie Research Capital Corporation, acting as lead underwriter in a syndicate of underwriters (the "Underwriters"), whereby the Underwriters will purchase, on a bought deal basis, 6,250,000 special warrants of the Company (the "Special Warrants") at a price of $1.60 per Special Warrant, for gross proceeds of $10,000,000 (the "Offering"). In addition, the Company has granted the Underwriters the option, but not the obligation, exercisable at any time up to one business day prior to the closing of the Offering to increase the size of the Offering by purchasing up to an additional $2,000,000 in Special Warrants (the "Underwriters' Option"). If the Underwriters' Option is exercised in full, the gross proceeds to the Company from the Offering will be $12,000,000.