Sage Extends Maturity Date of Pre-Production Debt Facility
06 Febrero 2014 - 4:00AM
Marketwired
Sage Extends Maturity Date of Pre-Production Debt Facility
TORONTO, ONTARIO--(Marketwired - Feb 6, 2014) - Sage Gold Inc.
(TSX-VENTURE:SGX) ('Sage") has concluded an agreement with Waterton
Global Value L.P. to extend the maturity date on the Pre-Production
debt facility to May 9, 2014. The agreement also provides Sage with
an option to further extend the maturity date to August 8, 2014.
All of the other material terms of the facility, as announced on
May 16, 2012, remain unchanged.
Sage has agreed to pay a fee of $75,000 in consideration for the
extension of the facility, due on May 9, 2014. If Sage elects to
further extend the maturity date to August 8, 2014, an option
available to Sage until April 24, 2014, Sage will issue one million
common shares subject to regulatory approval and pay a second fee
of $100,000 on the extended maturity date of the facility. Further,
if Sage elects to extend the maturity date to August 8, 2014 then
the aggregate fee of $175,000 is not due until August 8, 2014.
Nigel Lees President and CEO stated: "We are very pleased that
Waterton has agreed to extend the maturity date on the
pre-production debt facility. Waterton has been a very co-operative
lender throughout our relationship particularly in an adverse
climate for junior gold companies. Sage continues to advance
potential project financing transactions for both the Clavos gold
project and the Lynx Cu-Ag-Au project in Ontario."
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
project in Timmins and the Lynx Cu-Ag-Au project 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 take
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, the completion of the
transaction 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.
Sage Gold Inc.Nigel LeesPresident and
C.E.O.416-204-3170416-260-2243www.sagegoldinc.com
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