Sage Gold Inc.
TSX VENTURE : SGX

Sage Gold Inc.

September 18, 2013 15:48 ET

Sage Closes Private Placement and Executes Shares for Debt Settlement

TORONTO, ONTARIO--(Marketwired - Sept. 18, 2013) - Sage Gold Inc. (TSX VENTURE:SGX) has closed the final tranche of a previously announced private placement for gross proceeds of $30,500. A total of 1,016,666 common shares at $0.03 have been issued to two parties to complete this financing. The transaction is subject to TSX-V approval. Total fees on this placement are $840.00, plus the issuance of 840 broker warrants.

Sage has agreed to settle an obligation of $18,000 by issuing 360,000 common shares for a debt settlement to a third party vendor at a price $0.05 per share. The issuance represents payments to one vendor pursuant to a consulting agreement. The consulting agreement provides that a portion of the monthly fee can be converted to common shares. The transaction is subject to TSX-V approval.

Sage has agreed to settle an obligation of $16,667 owed to an arms-length consultant by issuing 333,340 common shares based on an agreed price of $0.05 per common share. The issuance represents an initial payment to one vendor pursuant to a one year consulting agreement. The consulting agreement provides that a portion of the monthly fee can be converted to common shares. The transaction is subject to TSX-V approval.

Sage 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 deposit in Timmins and the Lynx deposit 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.

This release was prepared by management of the Company who takes full responsibility for its contents. Neither 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 release.

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward Looking Information" within the meaning of applicable Canadian securities legislation. Some forward looking statements and forward looking information 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.

Contact Information

  • Sage Gold Inc.
    Nigel Lees
    President and C.E.O.
    416-204-3170

    Sage Gold Inc.
    Mike O'Brien
    Communications Manager/Investor Relations
    416-204-3170
    416-260-2243 (FAX)
    www.sagegoldinc.com