RE:PP closed SAGE GOLD INC.
67 Yonge Street Suite 808 Toronto, Ontario M5E 1J8 Tel: (416) 204-3170 Fax: (416) 260-2243 www.sagegoldinc.com Date: October 31, 2017 Trading Symbol: TSX.V-SGX
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NEWS RELEASE SAGE GOLD CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH UNITS ___________________________________________________________________________ _ Sage Gold Inc. (TSX.V-SGX) (“
Sage” or the “
Corporation”) is pleased to announce that, further to its press releases dated October 20, 2017 and October 23, 2017, the Corporation has closed a second tranche (the “
Second Tranche”) of its treasury offering of flow-through common share units of the Corporation (the “
Units”) at the price $0.22 per Unit (the “
Offering”). The Second Tranche consisted of the sale of 1,597,500 Units for gross proceeds of $351,450. Each Unit is comprised of one (1) common share of the Corporation (a “
Common Share”), issued on a flow-through basis (“
Flow-Through Share”), and one-half (½) of one Common Share purchase warrant (each whole warrant, a “
Warrant”). Each whole Warrant entitles its holder to purchase one Common Share at an exercise price of $0.32 for a period of 24 months following the closing of the Second Tranche.
Securities issued pursuant to the Second Tranche shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Second Tranche under applicable Canadian securities laws. In connection with the closing of the Second Tranche, finders’ fees of $28,116.00 were paid and 79,875 compensation warrants (“
Finder Warrants”) were issued to certain eligible finders. Each Finder Warrant entitles the holder to acquire one Common Share at an exercise price of $0.32 per Common Share for a period of 24 month following the closing of the Second Tranche. To date, the Offering, comprising the first tranche closed on October 23, 2017, and the Second Tranche, consists of the sale of 4,326,500 Units in the aggregate. Following the completion of the Second Tranche, 81,727,130 Common Shares are issued and outstanding. The Corporation intends to use the net proceeds from the Offering to incur Canadian Exploration Expenses (CEE) on its properties.
About Sage Gold The Company is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the Clavos Gold property, 100% owned, in Timmins and the 100% owned Onaman property and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at
www.sedar.com and
www.sagegoldinc.com.
Contact Information: Nigel Lees, President and CEO
416-204-3170
nlees@sagegoldinc.com
www.sagegoldinc.com