SGX Resources Inc.

SGX Resources Inc.

December 20, 2012 15:54 ET

SGX Resources Announces Closing of $1.2 Million Private Placement

WINNIPEG, MANITOBA--(Marketwire - Dec. 20, 2012) -


Dale Ginn, President and CEO of SGX Resources Inc. (TSX VENTURE:SXR) (the "Company") is pleased to announce that the Company has completed the second tranche of its private placement offering (the "Offering") of flow-through units (the "Units") of the Company with a syndicate of agents led by Primary Capital Inc. and M Partners Inc. and including Stonecap Securities Inc. (collectively the "Agents"). At the closing the Company issued 3,419,500 Units at a price of $0.35 per Unit for aggregate gross proceeds of $1,196,825. The aggregate number of Units issued by the Company in the first and second tranches of the Offering was 12,424,200 for aggregate gross proceeds of $4,348,470.

The Units each consist of one flow-through common share and one half of one non-flow-through common share purchase warrant of the Company ("Warrant") with each whole Warrant exercisable into one common share of the Company at a price of $0.45 for a period of 24 months following the date of issuance.

At the closing the Agents received a commission equal to 6% of the gross proceeds of the Offering, plus expenses.

All securities issued are subject to a hold period of four months and a day from the date of issuance in accordance with applicable securities laws. The securities issued by the Company in the first tranche of the Offering are subject to a hold period expiring on April 7, 2013. The securities issued by the Company in the second tranche of the Offering are subject to a hold period expiring on April 21, 2013.

The gross proceeds from the sale of the Units shall be used for Canadian exploration expenses on the mineral properties of the Company.

These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

For further information, visit A copy of this press release will be made available on the Company's website and will be filed with SEDAR.

CAUTIONARY STATEMENT: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.

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 the contents of this News Release.

Contact Information

  • SGX Resources Inc.
    Dale Ginn
    (204) 794-5818

    SGX Resources Inc.
    Investor Relations