Agoracom: Small Cap Investment - San Gold Corporation - SGX Resources increases financing to $12-million

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SGX Resources increases financing to $12-million

posted on Mar 15, 2012 06:32PM

SGX Resources increases financing to $12-million
Ticker Symbol: C:SXR

SGX Resources increases financing to $12-million

SGX Resources Inc (C:SXR)
Shares Issued 80,001,641
Last Close 3/14/2012 $0.42
Thursday March 15 2012 - News Release

An anonymous director reports (wtf is an anonymous director - my words in parentheses)

SGX RESOURCES INC. INCREASES PRIVATE PLACEMENT

SGX Resources Inc., in connection with its previously announced private placement of flow-through units and units, has agreed to increase the size of the offering by up to a further $4-million, for total gross proceeds of up to $12-million. All other terms and conditions remain the same as previously announced.

Closing of the offering is scheduled to occur on or about March 27, 2012. All securities issued will be subject to a four-month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

The gross proceeds from the sale of the flow-through units shall be used for Canadian exploration expenses, and the net proceeds from the sale of the units shall be used for general working capital purposes.