Havelock Investments Announcement

We understand the business reasons behind Sandstorm ceasing operations and liquidating its holdings to unit holders.  However, we were not informed of this decision by Sandstorm management at any point and have not yet received any communication from them.  We clearly do not find this acceptable.

We're continuing to attempt to contact Josh and will be looking into the closure process and will also be looking into changes to the Havelock Fund Manager interface to restrict what a fund manager can do.  Up until now, all fund managers have acted responsibly and while we don't want to essentially punish all fund managers for the actions of one, we want to ensure investors who use our platform can rely on the funds to have an orderly shutdown if needed.

Again, our issue is not with the fund ceasing to operate but the manner in which it was undertaken.