Sunridge Gold Increases Private Placement
Oct 10, 2012
Sunridge Gold Corp. (the "Company" or "Sunridge") (SGC:TSX.V/SGCNF:OTCQX) is
pleased to announce that due to demand it has increased the size of its
planned private placement announced on September 27, 2012 from $10,000,000
to $10,831,690 by way of a non-brokered private placement through the
issuance of up to 49,234,954 units at a price of $0.22 per unit (the
"Unit"). Each Unit will consist of one common share and one-half of one
common share purchase warrant (the "Warrant"). Each whole Warrant will
entitle the holder to purchase one additional common share of the Company at
a price of $0.35 for a period of five years from closing of the private
placement. The private placement and any modifications to it are subject to
compliance with applicable securities laws and to receipt of regulatory
approval. The Company may pay finders' fees in accordance with the policies
of the TSX Venture Exchange.
The proceeds of the financing will be used to fund the Company's work
programs at the Asmara Project in Eritrea and for general corporate
purposes.
About Sunridge:
Sunridge is a mineral exploration and development company focused on the
acquisition, exploration, discovery and development of base and precious
metal deposits on the Asmara Project in Eritrea and exploration properties
in Madagascar. Sunridge currently has approximately 123 million shares
outstanding and trades on the TSX Venture Exchange under the symbol SGC. For
additional information on the Company and its projects please view the slide
show on our website at <
http://www.sunridgegold.com> www.sunridgegold.com
or call Greg Davis at the number listed below.
The securities being offered have not been, nor will they be registered
under the United States securities Act of 1933, as amended, or state
securities laws and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S. federal and
state registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of
securities in the United States.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: <mailto:greg_at_sunridgegold.com> greg_at_sunridgegold.com
Tel: 604-688-1263 (direct)
Received on Wed Oct 10 2012 - 15:59:46 EDT
