Key Developments: Sunridge Gold Corp (SGC.V)

SGC.V on TSX Venture Exchange

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Latest Key Developments (Source: Significant Developments)

Sunridge Gold Corp announces formation of Asmara Mining Share Co
Thursday, 9 Oct 2014 07:00am EDT 

Sunridge Gold Corp:Says Asmara Mining Share Co (AMSC) has recently been formed in Eritrea.AMSC is the operating entity which will own and operate the Asmara copper-zinc-gold mine in Eritrea.  Full Article

Sunridge Gold Corp signs agreement with ENAMCO for Asmara Copper-Zinc-Gold Project, Eritrea
Tuesday, 4 Feb 2014 12:13pm EST 

Sunridge Gold Corp:Says It has executed a binding term sheet with the Eritrea National Mining Corporation (ENAMCO) regarding ENAMCO`s participation in the company`s Asmara Project in Eritrea.Says as first announced in August 2012, ENAMCO has exercised its right to acquire its maximum 30 pct participating interest in the Asmara Project in addition to ENAMCO`s existing right to be issued a 10 pct non-assessable interest that will be carried to production by the participating partners.Says ENAMCO has now agreed to pay Sunridge $18.33 million, bearing interest, payable in stages prior to production for the purchase of the 30 pct participating interest.  Full Article

Sunridge Gold Corp Announces Closing of $5,750,000 Brokered And Non-Brokered Private Placement
Tuesday, 22 Oct 2013 07:13am EDT 

Sunridge Gold Corp announced that it has closed a brokered financing by Tempest Capital Corp (the Agent) for gross proceeds of approximately $3,659,080 and a concurrent non-brokered financing to raise gross proceeds of approximately $2,090,920, for aggregate gross proceeds to the Company of $5,750,000. A total of 30,263,159 units, were issued at a purchase price of $0.19 per Unit (the Private Placement). Each Unit is comprised of one common share and one transferable common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.35 until October 18, 2017. In consideration for the Agent's services in connection with the brokered portion of the Private Placement and the services of arm's length finders in connection with the non-brokered portion of the Private Placement, the Agent and the Finders will receive a cash commission equal to 6% of the gross proceeds from the sale of Units, and non-transferable broker warrants exercisable to acquire that number of units equal to 6% of the number of Units sold pursuant to the Private Placement at a price of $0.19 per Broker Unit at any time prior to October 18, 2017. The Company intends to use the net proceeds of the Private Placement for further development of the Company's Asmara Project in Eritrea as well as for general working capital purposes.  Full Article

Sunridge Gold Corp Announces Increased Brokered Private Placement to $4 Million
Friday, 4 Oct 2013 07:03am EDT 

Sunridge Gold Corp announced it has increased its previously announced brokered private placement financing from $3 million to $4 million. Tempest Capital Corp is acting as agent for the Private Placement to raise gross proceeds of up to $4 million by the issuance of up to 21,052,632 units of the Company at a purchase price of $0.19 per Unit. In addition, Sunridge has agreed to grant the Agent an option to sell up to an additional 15% of the number of Units issuable under the Private Placement (or a maximum of 3,157,895 Units) at a price of $0.19 per Unit, on the same terms and conditions as the Private Placement, exercisable at any time, in whole or in part, until the date that is 48 hours prior to the closing of the Private Placement. Each Unit will consist of one common share and one transferable common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.35 until October 18, 2017. The Company will make an application to the TSX Venture Exchange to list the Shares and the Warrants issued pursuant to the Private Placement as well as the Warrant Shares issuable upon exercise of the Warrants. The Company intends to use the net proceeds of the Private Placement for further development of the Company's Asmara Project as well as general working capital purposes.  Full Article

Sunridge Gold Corp Appoints New CFO
Friday, 4 Oct 2013 07:03am EDT 

Sunridge announced that Doris Meyer has notified the Company of her decision to retire as Chief Financial Officer with effect from October 1, 2013. Ms. Meyer has served in this role with the Company since 2005. She will remain as a Director and as Corporate Secretary. Dan O'Brien has been appointed as Chief Financial Officer.  Full Article

Sunridge Gold Corp Announces Brokered Private Placement
Thursday, 19 Sep 2013 07:11am EDT 

Sunridge Gold Corp announced that it has appointed Tempest Capital Corp to act as agent for a private placement to raise gross proceeds of up to $3 million by the issuance of up to 15,789,474 units of the Company at a purchase price of $0.19 per Unit. Each Unit will consist of one common share and one transferable common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.35 until October 18, 2017. The Company will make an application to the TSX Venture Exchange to list the Shares and the Warrants issued pursuant to the Private Placement as well as the Warrant Shares issuable upon exercise of the Warrants. In consideration for their services, the Agent will receive a cash commission equal to 6% of the gross proceeds from the sale of Units, and broker warrants exercisable into that number of Units equal to 6% of the number of Units sold pursuant to the Private Placement. Each Broker Warrant will be exercisable to acquire one Share and one Warrant at a price of $0.19 at any time up to October 18, 2017. The Private Placement is expected to close on or about October 18, 2013, or such other date as agreed to by the Company and the Agent. The Company intends to use the net proceeds of the Private Placement for further development of the Company's Asmara Project as well as general working capital purposes.  Full Article

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