Partnering to Build Regional Infrastructure

Press Releases

Aug 28, 2009

Sandspring Resources Ltd. Announces Completion of $6 Million Private Placement

Sandspring Resources Ltd. (the "Corporation") (TSX-V: SSP.P) is pleased to announce that further to its press release dated August 14, 2009, the Corporation has successfully completed the second and final tranche (the "Second Closing") of its previously announced bought-deal equity financing (the "Offering") of subscription receipts ("Subscription Receipts") with a syndicate of underwriters led by Research Capital Corporation (collectively, the "Underwriters"). The Corporation issued a further 810,000 Subscription Receipts for aggregate gross proceeds of $283,500, pursuant to the remainder of the Underwriters' option to purchase additional Subscription Receipts. In total, the Corporation raised aggregate gross proceeds of $6,000,050 pursuant to the Offering.