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

To: Goose94 who wrote (5709)	3/11/2014 6:21:08 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

Savary Gold (SCA-V) Feb 24, '14 has closed its previously announced non-brokered private placement financing for total gross proceeds of $1.35-million, pursuant to which Savary has issued 27 million units at a price of five cents per unit. Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of the company at an exercise price of seven cents until Feb. 24, 2017. Savary plans to use the proceeds from the financing to finance an approximately $1.1-million drill program on the Hounde South project in Burkina Faso and for general corporate purposes. The common shares and the common shares issuable upon the exercise of the warrants are subject to a four-month-and-one-day hold period under applicable Canadian securities laws. Closing of the offering remains subject to the receipt of all applicable regulatory approvals, including final approval of the TSX Venture Exchange. Don Dudek, president and chief executive officer, stated: "The response to Savary's exploration plan and marketing have been excellent. We have a strong story, which additional groups will now follow. Our plan is to commence drilling at the beginning of March with a focus on the felsic-intrusion-hosted Karangosso zone where previous drilling, in two reverse circulation holes, returned 10.14 grams per tonne gold over 10 metres, 5.77 g/t gold over eight metres and 1.82 g/t gold over seven metres." In connection with the offering, Savary will pay cash finders' fees totalling approximately $22,000.