Sandspring Resources Announces Non-brokered Private Placement for $6.5 Million
Sandspring Resources Ltd. announces a non-brokered private placement of 20,312,500 units at a price of $0.32 per unit for gross proceeds of $6.5 million. Each unit consists of one common share of the Company and one share purchase warrant entitling the holder to purchase one share at $0.42 for a period of five years from the date of issuance. The Company intends to use the proceeds to undertake an exploration program on its Toroparu Gold Project in Guyana, South America, and for general working capital.
Sandspring is also pleased to welcome Harpreet Dhaliwal as Chief Financial Officer. Ms. Dhaliwal is a Chartered Accountant with eight years of experience in the resource sector, including positions with Endeavour Mining Corporation and Uranium One Inc.