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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2612)	10/3/2013 8:16:12 AM
From: Goose94	Read Replies (2) \| Respond to of 202718

Sunridge Gold (SGC-V) increases placement to $4-million from $3 million Oct 3rd 2013 - News Release Sunridge Gold Corp. has increased its previously announced brokered private placement financing from $3-million to $4-million. Tempest Capital Corp. is acting as agent, on a best-efforts basis, for the private placement to raise gross proceeds of up to $4-million by the issuance of up to 21,052,632 units of the company at a purchase price of 19 cents per unit. In addition, Sunridge has agreed to grant the agent an option to sell up to an additional 15 per cent of the number of units issuable under the private placement (or a maximum of 3,157,895 units) at a price of 19 cents per unit, on the same terms and conditions as the private placement, exercisable at any time, in whole or in part, until the date that is 48 hours prior to the closing of the private placement. Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 35 cents until Oct. 18, 2017. The company will make an application to the TSX Venture Exchange to list the shares and the warrants issued pursuant to the private placement as well as the warrant shares issuable upon exercise of the warrants. The company intends to use the net proceeds of the private placement for further development of the company's Asmara project as well as general working capital purposes. Also as previously announced, the company intends to proceed to settle outstanding debts with arm's-length parties in the aggregate amount of $830,128 by issuing units concurrent with the closing of the private placement. The debt settlement is subject to the acceptance of the exchange. Sunridge also announces that Doris Meyer has notified the company of her decision to retire as chief financial officer with effect from Oct. 1, 2013. Ms. Meyer has served in this role with the company since 2005. She will remain as a director and as corporate secretary. On behalf of the board of directors, Michael Hopley, president and chief executive officer of Sunridge, would like to thank Ms. Meyer for her many contributions over the years as chief financial officer and is pleased that she will remain on as a director and as corporate secretary of the company. Dan O'Brien has been appointed as chief financial officer. Mr. O'Brien is a chartered accountant and was previously a senior manager at a leading Canadian accounting firm where he specialized in the audit of public companies in the mining and resource sector. We seek Safe Harbor.