SGX Announces $1 Million Increase to Private Placement
WINNIPEG, MANITOBA--(Marketwire - Dec. 21, 2012) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Dale Ginn, Chief Executive Officer of SGX Resources Inc. (the "Company") (TSX VENTURE:SXR), is pleased to announce that the Company has determined to increase its current private placement offering (the "Offering") of flow-through units at a price of $0.35 per unit from a maximum of $5,000,000 to a maximum of $6,000,000 to complete a third non-brokered tranche. Each flow-through unit consists of one flow-through common share and one-half of one non-flow-through common share purchase warrant of the Company with each whole flow-through warrant exercisable into one common share at a price of $0.45 for a period of 24 months following the closing. The gross proceeds from the sale of the flow-through units shall be used for Canadian exploration expenses.
To date, the Company has completed two brokered tranches of the Offering for aggregate gross proceeds of $4,348,470. The third and final closing of the non-brokered tranche of the Offering is scheduled to occur on or about December 28, 2012. All securities issued will be subject to a four-month hold period. The third tranche of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
A copy of this press release will be made available on the Company's website and will be filed with SEDAR.
NOTE: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.
FOR FURTHER INFORMATION PLEASE CONTACT:
SGX Resources Inc.
SGX Resources Inc.