San Gold increases offering option to $7.48-million
Ticker Symbol: C:SGR
San Gold increases offering option to $7.48-million
San Gold Corp (C:SGR)
Shares Issued 312,676,841
Last Close 2/23/2012 $1.78
Friday February 24 2012 - News Release
Mr. Tim Friesen reports
SAN GOLD INCREASES PRIVATE PLACEMENT
In connection with its previously announced private placement, San Gold Corp. and the syndicate, led by Primary Capital Corp. and including Scotiabank, Stonecap Securities Inc. and Dundee Securities Ltd., have agreed to increase the size of the option from 2.39 million common shares to 3,565,000 common shares for gross proceeds of $7,486,500. All other terms and conditions remain the same.
Closing of the offering is scheduled to occur on or about March 15, 2012. All securities issued will be subject to a four-month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
The net proceeds will be used to continue exploration and development on the company's Rice Lake property.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.
