TSXV:SXR - Post Discussion
Post by
Roughrider27 on May 27, 2014 7:16pm
News release
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May 27, 2014
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San Gold Files Early Warning Report Regarding SGX Resources
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WINNIPEG, MANITOBA--(Marketwired - May 27, 2014) -
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) ("San Gold" or the "Company") today announces that it has acquired 6,351,000 common shares ("Common Shares") of SGX Resources Inc. ("SGX") at a deemed price of $0.05 per Common Share pursuant to a debt settlement agreement dated as of the date hereof. The Common Shares were issued in settlement of $317,550 owing by SGX to the Company. The Common Shares were acquired by the Company pursuant to the "securities for debt" exemption contained in National Instrument 45-106 Prospectus and Registration Exemptions.
The Common Shares represent approximately 4.74% of the issued and outstanding Common Shares of SGX. The acquisition results in the Company beneficially owning and controlling an aggregate of 43,047,256 Common Shares, representing approximately 32.1% of the issued and outstanding Common Shares. This represents a material change over the 36,696,256 Common Shares held by the Company prior to this transaction.
The Company acquired the Common Shares because the Company wished to settle the debt owing by SGX to the Company. The Company currently has no further intention of acquiring securities of SGX.
An early warning report in respect of the above-noted transaction will be filed on SEDAR and will be available at www.sedar.com or can be obtained from the Company as provided below.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. San Gold is listed on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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CONTACT INFORMATION:
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INDUSTRY: Manufacturing and Production - Mining and Metals
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