Sage Gold Extends Debt Facility Maturity Date
07 Maggio 2014 - 10:46PM
Marketwired
Sage Gold Extends Debt Facility Maturity Date
TORONTO, ONTARIO--(Marketwired - May 7, 2014) - As reported on
February 6, 2014, Sage (TSX-VENTURE:SGX) entered into an amendment
agreement (the "Amendment Agreement") relating to its CAD$1.5
million senior secured term debt facility (the "Facility") with
Waterton Global Value, L.P. ("Waterton"). In the Amendment
Agreement, Waterton agreed to extend the Facility's maturity date
(the "Maturity Date") from February 10, 2014 to May 9, 2014 and
offered Sage the option (at Sage's sole discretion) to further
extend the Maturity Date to August 8, 2014 (the "Extension
Option"). Sage has exercised the Extension Option.
As consideration for the modifications set forth in the
Amendment Agreement, Sage has agreed to pay Waterton, on the
Maturity Date: CAD$75,000 for the extension of the Maturity Date to
May 9, 2014; CAD$100,000 for the extension of the Maturity Date to
August 8, 2014; and CAD$20,000 in lieu of the issuance of one
million common shares in the capital of Sage originally promised to
Waterton as consideration for the Extension Option.
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.
Nigel LeesPresident and
CEO416-204-3170416-260-2243www.sagegoldinc.com
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