02.25.2005
Sahelian Goldfields Inc. (CNQ listed: symbol SAGE) today announced that it will change its name to Sage Gold Inc. effective March 3, 2005. and will consolidate all of its issued and outstanding common shares on the basis of one (1) post consolidation common share for every twenty-five (25) pre-consolidation common shares effective March 3, 2005, the record date for the consolidation. Any fractional shares will be adjusted downward to the next whole post consolidation common share. It is anticipated that trading of the consolidated common shares under the new name and under the same symbol “SAGE” will commence on March 3, 2005. Taking into effect the consolidation, there will be approximately 16.8 million shares outstanding.
On December 14, 2005, the Company mailed to its registered shareholders a letter of transmittal relating to the consolidation of its common shares. To receive certificates representing common shares of Sage Gold Inc., on a post-consolidated basis, registered shareholders should follow the instructions set out in the letter of transmittal and send their Sahelian Goldfields Inc. common share certificates, together with the letter of transmittal, to Equity Transfer Services Inc., the registrar and transfer agent of the Company. Equity will then mail back the new share certificates to which the registered shareholder is entitled in accordance with the instructions given in the letter of transmittal. In the case of shares held by a beneficial holder of Sahelian (i.e. through a brokerage account), the broker will be responsible for distributing the appropriate number of Sage Gold Inc. common shares to the holder.
Shareholders approved the name change and the share consolidation of the Company at the annual and special meeting of shareholders held on January 14, 2005.
Sahelian is a precious metals exploration and development company with properties in Ontario, Quebec, and Nevada. The Company is building an exploration and development company with its existing properties and through the acquisition of additional gold and silver properties.
For further information, contact: Nigel Lees, President and C.E.O., or
Allan Ibbitson, C.F.O.
Phone: 416-204-3170 Fax: 416-260-2243
Alec Alipan, Investor Relations
Phone: 416-907-0979 Fax: 416-907-9983
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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.