San Gold completes $29.84-million private placement
San Gold Corp (C:SGR)
Shares Issued 301,108,141
Last Close 3/14/2011 $2.79
Tuesday March 15 2011 - News Release
Mr. George Pirie reports
SAN GOLD CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT
San Gold Corp. has closed its private-placement offering, with a syndicate of agents co-led by Primary Capital Inc. and CIBC, and including Dundee Securities Ltd., of common shares of the company issued as flow-through shares within the meaning of the Income Tax Act (Canada). At the closing, the company issued 7,957,700 flow-through shares at a price of $3.75 per flow-through share for total gross proceeds to the company of $29,841,375.
The flow-through shares are subject to a hold period of four months and a day from the date of issuance in accordance with applicable securities laws.
In connection with the offering, the agents received a cash commission equal to 5 per cent of the gross proceeds raised under the offering.
The gross proceeds of the offering will be used for exploration and development on the company's mineral properties.
We seek Safe Harbor.
© 2011 Canjex Publishing Ltd.
