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As lead underwriters, BMO have agreed to buy 15.7 million shares in Sandstorm for $5.10 per share.
Sandstorm's share price fell 9% day on day to $5.05 on 28 September. A week earlier, the stock closed the trading session at $6.18.
The underwriters have also been granted the option, exercisable at the offering price from for a period of 30 days following closing, to purchase an additional 15% to cover over-allotments, if any.
Sandstorm currently has a portfolio of 250 royalties.
The company expects attributable production of 80,000-85,000 gold equivalent ounces this year. It hopes to increase that to 155,000 GEOs by 2025.
