IWS Announces Private Placement Financing
IWS Announces Private Placement Financing
– Momentum Public Relations –
Press Release: December 1, 2016
International Wastewater Systems Inc. (the “Company”) (CSE:IWS)(FRANKFURT:IWI)(OTC PINK:INTWF) is pleased to announce a private placement of common shares for gross proceeds of up to $4,050,000 at a price of $0.30 per share (the “Placement”).
The Placement will be offered in two tranches. The first tranche consists of a non-brokered private placement of up 5,000,000 shares at a price of $0.30 per share for gross proceeds of up to $1,500,000 (“Non-Brokered Tranche”). The second tranche consists of a brokered private placement of up to 8,500,000 shares at a price of $0.30 for gross proceeds of up to $2,550,000 (“Brokered Tranche”). Investor warrants will not be issued in the Placement.
The Company has engaged Haywood Securities Inc. (“Haywood”) to lead the Brokered Tranche on a best efforts basis. A cash commission equal to 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross proceeds of the Brokered Tranche, and broker’s warrants equal to 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the number of shares placed under the Brokered Tranche will be payable to Haywood, along with a work fee of $15,000. The Company will grant Haywood an option, exercisable in whole or in part to sell up to an additional 15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the proposed Brokered Tranche. Fees will also be payable in connection with the Non-Brokered Tranche.
All securities distributed pursuant to the Placement will be subject to a statutory hold period of four months and a day from the date of issuance. The Placement will not be offered in the United States. Closing of the Placement is subject to receipt of all necessary regulatory approvals.
The Company intends to use proceeds from the Placement to fulfill its pipeline of projects in Canada, the United States, Scotland, England, Australia and China, and for general corporate purposes.
ON BEHALF OF THE BOARD
Lynn Mueller, Chairman and Chief Executive Officer
About International Wastewater Systems Inc.
International Wastewater Systems Inc. is a world leader in thermal heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. IWS is publicly traded in Canada (CSE:IWS), the United States (OTC PINK:INTWF) and Germany (FRANKFURT:IWI).
- Published in International Wastewater Systems, News Home
Natan Resources Announces Brokered Private Placement of a Minimum of $3,000,000
Kelowna, British Columbia (FSCwire) – Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V:NRL) is pleased to announce that it has retained First Republic Capital Corporation (the “Agent”) to act as agent in connection with a best efforts brokered private placement to raise gross proceeds of a minimum of $3,000,000 (the “Offering”). Pursuant to the Offering, the Company intends to issue: (a) 10,000,000 subscription receipts (the “Subscription Receipts”), at a price of $0.20 per Subscription Receipt, for total gross proceeds of $2,000,000; and (b) 4,000,000 flow-through shares (“FT Shares”), at a price of $0.25 per FT Share, for total gross proceeds of $1,000,000.
Each Subscription Receipt is automatically exchangeable into units (“Units”) of the Company, on the basis of one Unit for each Subscription Receipt, upon the occurrence of certain events, including without limitation, the Company having received all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc.
Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the company at a price of $0.30 for a period of 24 months following the closing date of the Offering.
In connection with the Offering, the Agent will be entitled to a corporate finance fee in an amount equal to 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Subscription Receipts and FT Shares sold and a sales commission of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate gross proceeds of the Subscription Receipts and FT Shares sold. Additionally, the Company will issue to the Agent corporate finance options (“Compensation Options”) entitling the Agent to purchase a number of common shares equal to 2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Subscription Receipts and FT Shares sold and selling compensation warrants entitling the Agent to purchase a number of Common Shares equal to 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the aggregate number of Subscription Receipts and FT Shares sold, at an exercise price equal to the Offering price for 24 months following the date of closing the Offering.
Completion of the Offering is subject to receipt of TSX Venture Exchange approval and other requisite approvals. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after date of issuance.
The proceeds from the sale of flow-through units will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.
For further information regarding this news release contact:
Steve Roebuck, CEO
Tel: (905) 741-5458 or by email at geostever@hotmail.com
or
Song Lee, Associate, First Republic Capital Corp
Tel: (416) 957-6300 or by email at song@firstrepubliccapital.com
On behalf of the Board of Directors
Natan Resources Ltd.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd.. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Natan11182016.pdf
Source: Natan Resources Ltd. (TSX Venture:NRL)
- Published in Enforcer Gold Corp, Mining, News Home
AtmanCo Completes a $236,000 Private Placement of Units
AtmanCo Inc. (“AtmanCo” or the “Company”) (TSX VENTURE: ATW) is pleased to announce the closing of a private placement consisting of the issuance of 2,776,471 units at a price of $0.085 per unit, for total gross proceeds of $236,000. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant giving the holder the right to subscribe for one common share at a price of $0.15 from a period of 2 years.
The securities issued under this private placement are subject to a four-month hold period. This private placement remains subject to the approval of the TSX Venture Exchange.
Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
ABOUT ATMANCO
AtmanCo is the publisher of a scientifically validated psychometric test. Through the HR cloud platform or the application program interface (API), the results allow the companies to optimize the talents of their human capital by improving the recruiting and organizational development success rate. AtmanCo’s solutions also enable impacting the major consumer market by easily integrating them with our partners’ technological solutions. AtmanCo is also the owner of RNIS Telecommunications inc (‘VoxTel’) which owns the online dating site Quebec Rencontres as well as offering various interactive and billing wireless and landline telephone solutions.
Contacts:
AtmanCo Inc.
Michel Guay
Founder, president and CEO
514.935.5959 ext. 301
mguay@atmanco.com
www.atmanco.com
Simon Bedard, CA, CPA, CFA, MBA
CFO
514.935.5959 ext. 304
sbedard@atmanco.com
© 2017 Canjex Publishing Ltd. All rights reserved.
Mobi724 (MOS:CSE) Signs Commercial Agreement and Closes Private Placement
MOBI724 Global Solutions Inc. Subsidiary iQ724 Inc Signs Commercial Agreement with Bane-Welker and MOBI724 Global Solutions (MOS:CSE) Closes $ 217,000 Private Placements
– Momentum Public Relations –
Press Release: November 1, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS)(CSE:MOS.CN), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing is pleased to announce that iQ724 Inc. (“iQ”) a wholly owned subsidiary of MOBI724 has signed a commercial agreement with Bane-Welker Equipment to design, implement and operate a loyalty and digital marketing program for its 13 CaseIH agricultural dealerships in Indiana and OhioThe customer will also benefit from the Data Analytics and its business intelligence services.Bane-Welker Equipment is iQ’s first turnkey loyalty and digital marketing program in the United States. Bane-Welker’s 13 CaseIH agricultural dealerships is complemented by the other 13 Case IH agricultural dealerships that iQ also services in Canada.
The Company is also pleased to announce that it has successfully closed a second tranche equity private placement in the aggregate amount of $217,000.00 dollars by issuing 4,340,000 common shares (“Shares”) at $0.05. For each common share received, the subscribers were issued one common share purchase warrant at an exercise price of $0.15 exercisable on or before August 31st, 2018 after which they shall expire. The Company also converted of bona fide debt in the amount of $10,000.00 at a price of $0.05 per common share and $45,000.00 at a price of $0.063 for an aggregate issuance of 914,285 common shares.
The Shares were sold pursuant to exemptions from prospectus requirements to purchasers in Canada and are subject to a hold period of four months and one day following the closing of the private placement. The Shares are listed on the Canadian Securities Exchange (CSE). The Company will use the net proceeds to support project deployments of the Company’s solution, for ongoing obligations and for working capital requirements. Since August 31, 2016, the Company has raised $ 2.467 million dollars and this second tranche closing totals $467,000.00 in the aggregate with respect to the $1 million financing announced on September 6, 2016
About Bane Welker Equipment, LCC
Bane-Welker Equipment is a privately-owned Case IH agriculture equipment dealership with 13 locations in the Midwest United States. www.bane-welker.com
About iQ724
iQ724 is based in Montreal and was founded in 2007. iQ724 provides a customer retention/loyalty marketing platform to medium and large merchants iQ724 also provides professional services, digital marketing, data analytics and business intelligence solutions as part of their offering .For more information, visit: www.iq724.com
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions. We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all available user and purchasing data to increase transaction volumes and spend. MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets. Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home
Namaste (N:CSE) Closes Private Placement
Namaste Closes Private Placement
– Momentum Public Relations –
Press Release: October 17, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(FRANKFURT:M5BQ) is pleased to announce the closing of its non-brokered private placement for gross proceeds of $3,000,000. In addition, the Company is pleased to announce the bridge note to the private placement has been converted to equity increasing the cash proceeds available to the Company.
Further to the Company’s press releases on October 5, 2016 and October 12, 2016, the Company has completed its non-brokered private placement of 25,000,000 units (the “Units”) of the Company for gross proceeds of $3,000,000 (the “Offering”). The Offering was completed at a price of $0.12 per Unit. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”), with each full Warrant being exercisable for one Common Share at an exercise price of $0.20 per Common Share for a period of 24 months from the date of closing.
The proceeds from the offering will be utilized to fund cash closing costs associated with the wind down and integration of the URT1 acquisition, increases in stock needed to support the expected sales increase as a result of the URT1 acquisition and general working capital. The acquisition of URT1 is anticipated to close in the coming days. The Company will also pay finders’ fees of 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cash and 7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} broker’s warrants to select eligible parties.
Further to the Company’s press release dated September 7, 2016, the Company has received election from its arm’s length bridge note lender (the “Lender”) to convert the total $400,000 principal amount into common shares of the Company at a price of $0.15 per common share in lieu of repayment. As a result, the Company will issue the Lender a total of 2,666,666 common shares and have increased cash proceeds available to the Company.
Sean Dollinger, President and CEO of Namaste, comments: “I am proud to say we now move forward fully capitalized to execute our acquisition of URT1 and business plan. I would like to thank investors for their overwhelming support for our placement.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
- Published in Namaste Technologies, News Home
MOBI724 Global Solutions (MOS:CSE) Closes $ 750,000 Private Placements
MOBI724 Global Solutions (CSE:MOS) Closes $ 750,000 Private Placements
– Momentum Public Relations –
Press Release: October 7, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS)(CSE:MOS.CN), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing is pleased to announce that on October 5, 2016, it has successfully closed a first tranche equity private placement in the aggregate amount of $250,000.00 dollars by issuing 5,000,000 common shares (“Shares”) at $0.05. The private placement included a conversion of bona fide debt in the amount of $25,344.51. For each common share received, the subscribers were issued one common share purchase warrant at an exercise price of $0.15 exercisable on or before August 31st, 2018 after which they shall expire.
The Company has also closed a secured convertible debenture (“Convertible Debenture”) private placement in the amount of $500,000.00. The Convertible Debenture will (i) mature on March 30, 2018 (the “Maturity Date”), (ii) bear interest at a rate of 8 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per annum, (iii) be convertible at the option of the holder into common shares of the Company (the “Shares”) on or prior to the expiry of the Term at a price of $0.15 (the “Conversion Price”) and (iv) be secured by the receivables of the Company limited to 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross revenues. Payments shall be effected every 6 months and shall be limited to 10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross revenues collected and the holder shall have the option to be paid in cash or convert into Shares at the Conversion Price. The Company has the option to redeem the Convertible Debentures at any time prior to the expiry of the Term without penalty. Due to pari passu provisions in an existing and outstanding debenture recently issued to an institutional investor, the Company is also granting the same security in favour of the existing debenture holder.
The Shares and Convertible Debenture were sold pursuant to exemptions from prospectus requirements to purchasers in Canada and are subject to a hold period of four months and one day following the closing of the private placement. The Shares are listed on the Canadian Securities Exchange (CSE). The Company will use the net proceeds to support project deployments of the Company’s solution, for ongoing obligations and for working capital requirements. Since August 31, 2016, the Company has raised $ 2.25 million dollars and is currently working on closing another tranche of funding this month as previously announced.
The Company also announces that it recently ended its relationship with its current CFO-COO and that Mr. Michel David Pereira CPA CA will continue to execute the quarterly consolidated financials with internal accounting staff. The CEO, Marcel Vienneau stated that “we are currently concentrating our efforts in soliciting new team members.”
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS)(CSE:MOS.CN), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all available user and purchasing data to increase transaction volumes and spend.
MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on MOBI724 Global Solutions, visit www.mobi724globalsolutions.com.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home
Jet Gold 2,105,000-share private placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 28, 2016.
Number of shares: 2,105,000 shares
Purchase price: seven cents per share
Warrants: 1,052,500 share purchase warrants to purchase 1,052,500 shares
Warrant exercise price: 17 cents for a two-year period
Number of placees: seven placees
Finder’s fee: $1,344 payable to Mackie Research Capital
Note that in certain circumstances, the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Deep South Resources Inc., Mining, News Home
Jet Gold closes $147,350 private placement
Jet Gold Corp. has closed a non-brokered private placement of 2,105,000 units at seven cents per unit for gross proceeds of $147,350. Each unit consists of one common share and one-half common share purchase warrant of Jet Gold. Each full warrant will entitle the holder thereof, during a period of 24 months from the date of closing of the private placement, to purchase one Jet Gold common share at an exercise price of 17 cents per common share. Each security issued pursuant to the placement will have a mandatory four months holding period from the closing date of the placement.
The company has paid Mackie Research Capital Corp. a finder’s fee of $1,344 and issued 19,200 compensation warrants. The compensation warrants have the same terms and conditions as the warrants. Each security issued pursuant to the placements has a mandatory four-month hold period from the date of closing of the placements.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Deep South Resources Inc., Mining, News Home
Sage Gold (SGX:tsxv) Announces Closing of Oversubscribed Flow-Through Private Placement
Sage Gold (SGX:tsxv) Announces Closing of Flow-Through Private Placement
– Momentum Public Relations –
Press Release: September 13th,2016
Sage Gold Inc. (the “Corporation”) (TSX VENTURE:SGX) is pleased to announce that, further to its press release dated August 29, 2016, it has completed the closing of its non-brokered private placement (the “Offering“). The issue was oversubscribed. The Corporation will be issuing 6,250,000 Units at a price of $0.10 per Unit for gross proceeds of $625,000. Each Unit will include one common share of the Corporation issued on a flow-through basis (“Flow-Through Share”) plus one half (1/2) of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles its holder to purchase one Common Share (a “Warrant Share”) at an exercise price of $0.20 for a period of 24 months following the Closing Date, whereupon the Warrants will expire.
The securities issued pursuant to the Offering will be subject to a four (4) month and one (1) day statutory hold period. In connection with the Offering, a finder’s fee of $20,750 will be paid in cash and 207,500 in compensation shares to certain eligible finders. The outstanding shares after this financing are 43,098,481 shares. The Corporation intends to use the net proceeds from the Offering to incur Canadian Exploration Expenses (CEE) on its Onaman and Clavos projects.
If the Corporation’s shares trade at or above $0.30 per share for 20 consecutive trading days, the Corporation may, at any time after the expiry of the statutory hold period, accelerate the expiration of the Warrants upon not less than 30 days written notice by the Corporation, and thereafter repurchase any unexercised Warrants at $0.001 per underlying common share.
Two (2) insiders of the Company participated in the Offering, thereby making the Offering a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Mr. Gary Robertson, a Director of the Company, purchased, 300,000 Units pursuant to the Offering and will own or control 853,483 shares or approximately 2.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total shares issued and outstanding after the completion of the Offering and Nigel Lees, Chief Executive Officer, purchased indirectly 170,000 Units pursuant to the Offering and will own or control 4,282,881 shares or approximately 10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the total shares issued and outstanding after the completion of the Offering. The Offering was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is not listed under a specified market (as set out in section 5.5(b) of 61-101) and the fair market value of the shares issued to, nor the consideration paid by Mr. Robertson or Mr. Lees exceeded 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Company’s market capitalization. No new insiders were created, nor has any change of control occurred as a result of the Offering.
Director Resignation
The Company announces that Mr. Sandy Chim has requested that he step down from the Board of Directors of the Corporation. Mr. Chim has and will continue to be a strong supporter of Sage. The Board thanks Mr. Chim for the wisdom and guidance that he has tirelessly provided over the past several years.
About Sage Gold
The Company is a mineral exploration and development company which has primary interests in near-term production and exploration properties in Ontario. Its main properties are the Clavos Gold property, 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned, in Timmins and the 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Lynx copper, gold, silver property and other exploration properties in the Beardmore-Geraldton Gold Camp. Technical reports and information relating to the properties can be obtained from the System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com and www.sagegoldinc.com.