NEWS
San Gold names Berzins director
2013-05-21 18:08 ET - News Release
Mr. Ian Berzins reports
SAN GOLD ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS AND THE ACQUISITION OF SHARES IN WILDCAT EXPLORATION
San Gold Corp.'s board of directors has appointed Ian Berzins, the president, chief executive officer and chief operating officer of the company, as a director of the company. The board of directors has also changed the role of executive vice chairman to that of lead director which continues to be filled by Dale Ginn.
San Gold also announced that it has filed an early warning report with respect to its purchase of 1,250,000 common shares ("Common Shares") of Wildcat Exploration Ltd. ("Wildcat") pursuant to a subscription agreement effective as of December 12, 2012. The Common Shares were acquired by the Company pursuant to the "accredited investor" exemption contained in National Instrument 45-106 Prospectus and Registration Exemptions.
The 1,250,000 Common Shares represent approximately 16.17% of the issued and outstanding Common Shares of Wildcat. The acquisition results in the Company beneficially owning and controlling an aggregate of 1,500,000 Common Shares of Wildcat, which represents approximately 19.4% of the issued and outstanding Common Shares of Wildcat. This represents a material change over the 250,000 Common Shares held by the Company prior to this transaction.
The purpose of the Company in effecting the transaction was to comply with its requirements pursuant to a property option agreement between the Company and Wildcat dated August 9, 2011 pursuant to which the Company has the option to acquire an 80% interest in certain mineral properties of Wildcat.
An early warning report in respect of the above-noted transaction has been filed on SEDAR and is available at www.sedar.com