Trading Symbol - TSXV: SGX/CNQ: SAGE
TORONTO, Jan. 4 /CNW/ - 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.
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange and 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.
