Didn't take long for exchange to formally approve this agreement... hummm... a good thing...

red911

Sage Gold agreement to acquire 60% in Clavos

2010-02-12 17:47 NT - Property Agreement

The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated Feb. 8, 2010, between Sage Gold Inc. and St. Andrew Goldfields Ltd. -- a Toronto Stock Exchange-listed company. Pursuant to the agreement, the company shall have the option to acquire a 60-per-cent interest in the Clavos property.

As consideration, the company must pay the optionor $25,000 and issue 500,000 shares. Within a three-year period, the company must also pay the optionor an aggregate of $105,000, issue an $105,000 worth of common shares (subject to further exchange approval) and incur $3-million in exploration expenditures.

For further information, please refer to the company's press release dated Feb. 9, 2010.