tothegoldrush 's Profile
tothegoldrush 's Posts
I suspect that they are having trouble raising the capital they require to close this deal. I keep looking at this to buy but am concerned that the stake holders will let it go bankrupt and pick up the scraps and sell them off.
San Gold Announces Special Meeting Voting Results
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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.
- Approving the issuance of securities of San Gold in connection with the Arrangement among San Gold, Kerr Mines Inc. and 8982805 Canada Ltd., a wholly-owned subsidiary of San Gold.
Total Votes
Votes For
% For
Votes Against
% Against
83,025,286
73,926,304
89.04
%
9,089,982
10.96
%
- Approving the issuance of up to 130,000,000 subscription receipts of San Gold.
Total Votes
Votes For
% For
Votes Against
% Against
83,006,800
71,839,653
86.54
%
11,167,147
13.46
%
- Approving an amendment to the articles of amalgamation of San Gold to consolidate the common shares of San Gold on a five to one basis.
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
Here we go again. Does this not sound familiar. Great drill results but in the end nothing much comes out of the mine ?. They will definately consolidate no junior out there has a billion shares outstanding it is too difficult to move the share price. I will wait untill all the smoke clears before i buy this story again. Fresh start cannot hurt.
Maybe he would not agree to the upcoming reverse split. As for his shares being worth only $.09. Still not bad considering they were free. If there is a big sell off in shares I would bet they are his just before the split.
3 to 1 on the merger with sgr about another 180 million shares. Seems Kerr likes 1 billion shares outstanding before they dillute.