Press release from CNW Group
SGX Resources Inc. Announces Private Placement Offering of Flow-Through Units
Wednesday, December 01, 2010
/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES./
WINNIPEG, Dec. 1 /CNW/ - Mr. Hugh Wynne, CEO of SGX Resources Inc. (the "Corporation"), a company listed on the TSX Venture Exchange under the symbol "SXR", today announced a private placement offering (the "Offering") of up to 2,000,000 units ("Units") at a price of $3.50 per Unit for gross proceeds of up to $7,000,000. Each Unit will be comprised of nine common shares of the Corporation issued as "flow-through shares" within the meaning of the Income Tax Act (Canada), one regular common share of the Corporation and five common share purchase warrants ("Warrants"). Each Warrant will entitle the holder thereof to purchase one common share of SGX at a price of $0.45 per share until July 20, 2012.
Certain companies and individuals may assist the Corporation by introducing potential subscribers for the Offering and, subject to compliance with applicable legislation, will be entitled to receive a fee, payable in cash, equal to 5% of the total subscription proceeds received from subscribers introduced to the Corporation by each particular person.
No broker warrants will be issued in connection with the Offering. All the terms of the Offering are subject to the approval of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
For further information:
contact Hugh Wynne, Chief Executive Officer of SGX Resources Inc., at (204) 791-1723.
