NovaDx Ventures Corp. (TSXV:NDX) and Sandstorm Metals & Energy Ltd. (TSXV:SND) entered into a letter of intent to acquire Tennessee Properties from Premium Coal Company, National Coal, LLC and Jacksboro Coal Company, LLC for $8.5 million on October 16, 2012. The purchase price will be payable through a cash payment of $3 million contributed by Sandstorm, $2 million payable through the issuance of 4.4 million common shares of Sandstorm and a short term promissory note in the amount of $3.5 million. The acquisition will be completed through a newly incorporated company to be initially owned by Sandstorm and by Novadx, based on their relative contribution to the purchase price. Novadx will have full control over management and operation of the new company. Sandstorm has also granted Novadx an option to acquire Sandstorm's interest in the new company at cost. Completion of the acquisition and related transactions remains subject to the approval of the TSX Venture Exchange. Kin Communications Inc. acted as public relation advisor for Novadx Ventures.

NovaDx Ventures Corp. (TSXV:NDX) and Sandstorm Metals & Energy Ltd. (TSXV:SND) completed the acquisition of Tennessee Properties from Premium Coal Company, National Coal, LLC and Jacksboro Coal Company, LLC on January 2, 2013.