The Prospector News

San Gold Acquires Mineral Claims from Strikepoint Gold

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

San Gold Acquires Mineral Claims from Strikepoint Gold

 
 
George Pirie, President and CEO of San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) announced that San Gold has acquired a total of 50 mineral claims (covering 8,974 ha) located in the Rice Lake area of Manitoba from Strikepoint Gold Inc.
 
In addition, San Gold has acquired all the shares of 6004903 Manitoba Ltd, a wholly-owned subsidiary of Strikepoint, whose sole business is the ownership of certain real property and a house in Bissett, Manitoba. The consideration paid by San Gold for the mineral claims and all the shares of Numco is 1,573,188 common shares of San Gold at a deemed price of $1.462 per share and $125,000 in cash. The transaction was completed pursuant to a purchase agreement dated as of the date hereof between San Gold and Strikepoint.
 
\"\"
Following a re-evaluation of prior work, San Gold intends to actively explore these newly acquired properties with the view to developing such properties.
 
The property acquired from Strikepoint is currently subject to an option agreement between Strikepoint and San Gold which has now been terminated.
 
The sale of the mineral claims and shares of Numco by Strikepoint to San Gold is subject to the final approval of the Toronto Stock Exchange.
 
 
\"\"
 
 
About San Gold
 
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. San Gold employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
 
For further information on San Gold, please visit www.sangold.ca.

 

Posted June 7, 2012

Share this news article

MORE or "UNCATEGORIZED"


Titan Mining Closes C$6.3 Million Private Placement

Titan Mining Corporation (TSX:TI) announces the closing of its pr... READ MORE

October 11, 2019

Azimut Closes $1,430,000 Private Placement

Azimut Exploration Inc. (TSX-V: AZM) is pleased to report that it... READ MORE

October 11, 2019

Canada Cobalt Signs Binding LOI to Acquire Strategic Assets

Canada Cobalt Works Inc. (TSX-V: CCW) (OTC: CCWOF) (Frankfurt: 4T... READ MORE

October 11, 2019

Rubicon Minerals Completes C$12 Million Private Placement Financing

Rubicon Minerals Corporation(TSX: RMX) (OTCQX: RBYCF) is pl... READ MORE

October 10, 2019

Corvus Gold Inc. Closes C$23 Million Bought Deal Financing

Corvus Gold Inc. (TSX: KOR) (OTCQX: CORVF) is pleased to announce... READ MORE

October 10, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions