OTCQX:BGMZF - Post by User
Post by
halcroon Feb 06, 2015 5:57pm
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Post# 23405849
Direct Gibson's San Gold gets more debtor-in-possession cash
Direct Gibson's San Gold gets more debtor-in-possession cashSGR delisting date is February 27, 2015.
2015-02-06 17:09 ET - News Release
Mr. Mandeep Rai reports
SAN GOLD ANNOUNCES SECURED LOAN
San Gold Corp. has obtained a secured loan in the amount of $842,697 (U.S.) from an investor managed by B Asset Manager LP. The loan is evidenced by a secured demand promissory note issued to the lender by San Gold. The note is secured by a debtor-in-possession charge granted to the lender over all of the assets of San Gold. The note bears interest in the amount of 14 per cent per annum and interest is payable monthly, in advance. The note is repayable on demand or in certain other circumstances at the option of the lender. The note is not convertible into other securities of San Gold.
This note is in addition to four notes issued previously by San Gold to an investor managed by B Asset Manager LP.
The net proceeds from the sale of the note will be used by San Gold to finance its operations.
We seek Safe Harbor.
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