For those who may not realize... There were multiple tranches with the last PP that were announced on 2 seperate days. Therefore, there were 2 seperate hold period expiry dates, Feb. 19, 2009, and Feb. 25, 2009 (see release below).

The first expiry date (which passed without incident or fanfare here), Feb. 19, 2009, applied to 15.6 million flow-through units at 12.5 cents per unit to a group of institutional investors. The second expiry date, Feb. 25, 2009, applied to 12 million flow-through units at 12.5 cents per unit to MineralFields Group. As I have posted previous, I was more concerned about the institutional investors hold expiry date (Feb. 19) as I believe they, or some or any of them, would be much more likely to sell shares at break-even to keep free warrants. MineralFields not known for doing so. Therefore, Feb. 19th has come and gone with no noticeable selling pressure, until yesterday. SGX churned through 5.8 million shares, that is significant IMO. This churn has to take place. Once it is doen we could move up. When that happens is anyone's guess.

Any suggestion SGX deliberately released news because of a share hold expiry is completely wrong IMO. IMO more likely it was timed to coincide with PDAC this weekend. Maybe we will get more today? Paint Lake assays pending for some time... and Onaman NI 43-101 could come at any time... who knows? Just speculating.

On another note, today is March Au futures first notice day. IMO gold will resume upward trend. But who really knows for sure?

red911

P.S. Thanks for the kind words to those who gave them. To those who wonder what I am all about... I am a shareholder of SGX, nothing more nothing less. I am certainly not connected to SGX in any way (although I would like to be LOL... Mike if you are reading this and would like to throw some real work my way I'm open to a career change LOL). Believe that if you wish. If you do not... not my problem.

Sage Gold closes financing, raises $3.45-million

2008-11-05 15:49 EST - News Release

Mr. Nigel Lees reports

SAGE OBTAINS FINAL ACCEPTANCE OF $3.450 MILLION PRIVATE PLACEMENT

Sage Gold Inc. has received final acceptance of the non-brokered private placement flow-through financing in the total amount of $3.45-million. The company has determined to close the private placement and not proceed with the balance of the proposed $3.75-million financing. No further closings will be completed under this financing. Each unit consists of one flow-through common share plus one-half of one share purchase warrant. Each whole warrant is exercisable at 20 cents for 24 months from the closing date of the offering.

A total of $204,000 was paid, plus 2,176,000 warrants issued, (each exercisable into one common share at a price of 20 cents for a two-year period) to Limited Market Dealer Inc., Barrington Capital Corp., Augen Capital Corp. and National Bank Financial.

If the company's common shares achieve a closing price of 30 cents or higher for a period of 21 consecutive trading days, the company may, at any time after the expiry of the hold period, notify the warrant holders that all unexercised warrants will expire 30 days following the date that the notice is issued.

All securities are subject to a four-month hold period from the respective closing date of each financing under the private placement, which expire on Feb. 19, 2009, and Feb. 25, 2009, respectively.

The net proceeds of the private placement will be used to finance the company's exploration programs in Ontario.

We seek Safe Harbor.