So the whole Liqidnet/Stonecap 40% discount to pp theory held some water

San Gold completes $22.51-million placement
Ticker Symbol: C:SGR

San Gold completes $22.51-million placement

San Gold Corp (C:SGR)
Shares Issued 312,926,841
Last Close 3/15/2012 $1.51
Friday March 16 2012 - News Release

Mr. George Pirie reports

SAN GOLD CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT

San Gold Corp. has closed its private placement offering with a syndicate of agents led by Primary Capital Inc. and including Scotiabank, Dundee Securities Ltd. and Stonecap Securities Inc. of common shares of the company issued as flow-through shares within the meaning of the Income Tax Act (Canada). At the closing, the company issued 10,715,000 flow-through shares (which included 3,565,000 flow-through shares that were sold pursuant to an overallotment option) at a price of $2.10 per flow-through share for total gross proceeds to the company of $22,501,500.

The flow-through shares are subject to a hold period of four months and a day from the date of issuance in accordance with applicable securities laws.

In connection with the offering, the agents received a cash commission equal to 5 per cent of the gross proceeds raised under the offering.

The gross proceeds of the offering will be used for exploration on the company's mineral properties.

© 2012 Canjex Publishing Ltd.