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South American Gold Announces $1,500,000 Private Placement
South American Gold Announces $1,500,000 Private Placement.
About this update from South American Gold Corp
[{"type":"text","content":"South American Gold Corp\n(OTC: SAGD) announced today that it has\ninitiated a $1,500,000 private placement offering of the Company’s common\nshares at a price per share of $0.05, with an over-allotment option to increase\nthe offering, solely to persons who qualify as accredited investors (the\n\"Offering\") under Rule 506(c) of Regulation D promulgated by the SEC\nunder the Securities Act of 1933, as amended (the \"Securities Act\"). \n\nThis\nprivate placement memorandum and the subscriptions thereof is set in Units\nconsisting of 100,000 shares of common stock of the Company and a common share\npurchase warrants (each a \"Warrant\") equaling one common share\nwarrant per common share initially subscribed, with the Warrant exercisable to\nacquire an additional share of common stock of the Company at a price of $0.25 USD\nuntil the warrant expiration date of August 1, 2018. The Company may accelerate\nthe warrant expiration date of the Warrant, if the price of the Company's\ncommon stock closes at or above $0.50 USD for twenty consecutive trading days.\n\nThe\nCompany intends to use the net proceeds of the Offering for working capital,\ninventory, development, and marketing. \n\nAccording\nto David Reeves, President of SAGD, “This Private Placement will allow us to\nobtain the capital needed to further the development and marketing of our\nproducts. We will utilize these funds to add additional sales and marketing\npersonnel, further the development and marketing of PotCircles, and increase\nthe inventory levels of the Rehaba product lines. As it stands now, we have\nmore demand for Rehaba than we can fulfill.” \n\n\nDetails\nabout the Company and this Private Placement Memorandum pursuant to Rule 506(c) of Regulation D promulgated by the SEC under the Securities\nAct of 1933, as amended; are available for viewing by\naccredited investors at: http://www.sagdcorp.co. \n\nThis\npress release does not constitute an offer to sell or a solicitation of an\noffer to buy securities nor shall there be any sale of the securities\nreferenced herein in any state or other jurisdiction in which such offer,\nsolicitation or sale is not permitted. The securities referenced herein have\nnot been approved or disapproved by any regulatory authority. \n\nAbout South American Gold Corp \n\nSouth American\nGold Corp is a publicly traded compan...