San Gold Corporation TSX : SGR
OTCQX : SGRCF
Today: $1.50 per share
March 16, 2012 12:30 ET
BISSETT, MANITOBA--(Marketwire - March 16, 2012) - Mr. George Pirie, President and CEO of San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) (the "Company"), is pleased to announce that it has closed its private placement offering (the "Offering") with a syndicate of agents led by Primary Capital Inc. and including Scotiabank, Dundee Securities Ltd. and Stonecap Securities Inc. (the "Agents") of common shares of the Company issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares"). At the closing, the Company issued 10,715,000 Flow-Through Shares (which included 3,565,000 Flow-Through Shares that were sold pursuant to an over-allotment option) at a price of $2.10 per Flow-Through Share for total gross proceeds to the Company of $22,501,500.
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% of the gross proceeds raised under the Offering.
The gross proceeds of the Offering will be used for exploration on the Company's mineral properties.
These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
For further information, please visit www.sangold.ca.
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% of the gross proceeds raised under the Offering.
The gross proceeds of the Offering will be used for exploration on the Company's mineral properties.
These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
For further information, please visit www.sangold.ca.
The TSX and the OTCQX exchanges have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
Contact Information
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San Gold Corporation
Tim Friesen
Communications Director
1 (855) 585-4653
San Gold Corporation
George Pirie
President and CEO
1 (416) 214-0024
www.sangold.ca
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