07.06.2005
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES
Sage Gold Inc. (CNQ listed: symbol SAGE) is pleased to announce that it has closed the third tranche of its previously announced financing, pursuant to which it issued 4,000,000 flow-through shares at a price of 7.5 cents per share for gross proceeds of $300,000. The Company also issued 320,000 compensation options exercisable for common shares of the Company and $30,000 in finders’ fees.
To date, the Company has raised a total of $1,151,063 in gross proceeds in flow-through and unit financing and issued an aggregate of 320,000 compensation options for shares, 160,000 compensation options for units and $75,000 in cash as finders’ fees.
Following the closing of this tranche, the Company has 32,122,182 issued and outstanding common shares.
For further information, contact:
Nigel Lees, President and C.E.O.,
or Bill Love, C.F.O.
Phone: 416-204-3170
Fax: 416-260-2243
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This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, nor the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.
This release was prepared by management of the Company who takes full responsibility for its contents. The Canadian Trading and Quotation System Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements.