01.04.2006
Sage Gold Inc. (“SAGE”) is pleased to announce that on December 29, 2005, it closed a non-brokered private placement of 7,905,000 flow-through common shares (“Shares”) at Cdn $0.10 per Share for gross proceeds of $790,500 (the “Offering”). SAGE also agreed to pay $52,000 in finder’s fees and granted to certain finders compensation options (“Options”) to acquire 516,000 common shares of SAGE (“Common Shares”) with each Option entitling the holder to purchase one Common Share at $0.10 per Common Share up to December 29, 2007. The proceeds from the Offering will be used by SAGE for exploration on its properties in Ontario and Quebec.
Following the issuance of the Shares pursuant to the Offering, there were 46,372,961 Common Shares issued and outstanding.
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
The Listing Application and additional information about SAGE can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.
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This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange and the Canadian Trading and Quotation System Inc. have not reviewed and do 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.