Sandspring Resources Announces Non-brokered Private Placement for $6.5 Million
DENVER, COLORADO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 19, 2016) - Sandspring Resources Ltd. (TSX VENTURE:SSP)(OTCQX:SSPXF) ("Sandspring" or the "Company") announces a non-brokered private placement of 20,312,500 units ("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 ("Share") 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 ("Warrant"). A finder's fee of 5% will be paid on a portion of the orders.
