Sandfire Resources America Inc. Provides Update on Rights Offering
VANCOUVER, Oct. 24, 2018 - Sandfire Resources America Inc. (TSX.V: "SFR"; OTCQB: "SRAFF") ("Sandfire" or the "Company") advises that the Canadian Union of Postal Workers commenced rotating strikes on Monday, October 22, 2018 and the rotating strikes are ongoing.
Registered shareholders who wish to exercise the rights issued pursuant to the Company's rights offering announced on September 19, 2018 must ensure that the completed rights certificate, together with the applicable funds, are received by Computershare Investor Services Inc., on or before 2:00 p.m. (Vancouver time) on October 30, 2018.
Given the mail disruption, registered shareholders are encouraged to return their completed rights certificate and applicable funds by courier to Computershare Investor Services Inc., located at 100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1. Non-registered shareholders are advised to contact their broker at the earliest opportunity.
Further details of the rights offering are contained in the Company’s rights offering Circular, which was filed on SEDAR on September 19, 2018 under the Company's profile at www.sedar.com.
This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities of the Company. There shall be no offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the laws of any such jurisdiction.
Business Update
Following receipt of the relevant approvals from the Montana Department of Environmental Quality, Sandfire’s wholly owned US subsidiary, Tintina Montana Inc., has mobilized Ruen Drilling Inc. crews to conduct an Autumn/Winter drill program to support the Black Butte underground copper project feasibility study. Feasibility study work, led by GR Engineering Services Limited, will continue through October with the bulk of the work commencing in November and a target completion date of the June Quarter 2019.
The Company is aware that a complaint has been filed with the Federal Election Commission (“FEC”) regarding donations made by Tintina Montana Inc. to the Montana Mining Association to oppose, jointly with other Montana mining companies, Citizen’s Initiative I-186 in Montana. The Company understands that the FEC is reviewing the complaint for completeness prior to making a decision on a procedural investigation. The Company believes that there is no merit to the complaint and intends to vigorously defend itself should the FEC proceed to an investigation.
About Sandfire Resources America Inc.
Sandfire Resources America Inc. is a growth company focused on the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper project in central Montana, USA. The Company is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development.
Contact Information:
Sandfire Resources America Inc.
Nancy Schlepp, VP Communications & Corp. Sec.
Mobile: 406-224-8180
Office: 406-547-3466
Email: nschlepp@sandfireamerica.com
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this document constitute “forward looking information” within the meaning of Canadian securities legislation, including statements regarding the feasibility study, timelines, the Company’s plans for advancing the Black Butte Copper Project, the FEC complaint and expected outcomes. In making these forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will receive required regulatory approvals, that the Company will continue to be able to access sufficient funding to execute its plans, and that the results of exploration and development activities will be consistent with management’s expectations. However, the forward-looking statements in this document are subject to numerous risks, uncertainties and other factors, including factors relating to the Company’s operation as a mineral exploration and development company and the Black Butte Copper Project, that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that results of exploration and development activities will not be consistent with management’s expectations, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.