Consolidation not 1 year but days
posted on
Nov 07, 2014 09:02AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
|
WINNIPEG, MANITOBA--(Marketwired - Nov. 6, 2014) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) is pleased to announce that its shareholders voted in favour of an ordinary resolution approving the issuance of certain securities of San Gold in connection with the proposed arrangement (the "Arrangement") between San Gold, Kerr Mines Inc., and 8982805 Canada Ltd. brought before them at San Gold's special meeting of shareholders held today in Winnipeg.
At the meeting, shareholders also approved the issuance of up to 130,000,000 subscription receipts of San Gold in connection with a proposed financing arrangement and authorized San Gold's board of directors to amend its articles of amalgamation to consolidate the common shares of San Gold on a five to one basis following the Arrangement.
The following provides a detailed summary of the voting results.
Total Votes | Votes For | % For | Votes Against | % Against | ||
83,025,286 | 73,926,304 | 89.04 | % | 9,089,982 | 10.96 | % |
Total Votes | Votes For | % For | Votes Against | % Against | ||
83,006,800 | 71,839,653 | 86.54 | % | 11,167,147 | 13.46 | % |
Total Votes | Votes For | % For | Votes Against | % Against | ||
115,323,754 | 87,534,451 | 75.90 | % | 27,789,303 | 24.10 | % |
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Rice Lake Mining Complex near Bissett, Manitoba. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
Cautionary Note: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact Information:
San Gold Corporation
Greg Gibson
Chief Executive Officer
Toll Free: 1 (855) 585-4653
sgr@sangold.ca
San Gold Corporation
Tim Friesen
Investor Relations
Toll Free: 1 (855) 585-4653
www.sangold.ca