New Sage Energy Announces Proposed New Financing
31 5월 2010 - 9:30PM
Marketwired
New Sage Energy Corp. (TSX VENTURE: NSG) ("New Sage" or the
"Corporation") is pleased to announce that it intends to use its
commercially reasonable efforts to complete a non-brokered private
placement (the "Private Placement"), in one or more closings, of up
to $575,000 in gross proceeds consisting of up to 11,500,000 units
at a price of $0.05 per unit (the "Unit").
Each Unit will consist of one common share in the capital of the
Corporation (the "Common Shares") and one-half of one warrant (the
"Warrant"), with each whole Warrant entitling the holder thereof to
purchase one Common Share at a price of $0.10 per share for a
period of 18 months from the date of closing.
The Corporation intends to use the net proceeds from the private
placement for new projects, acquisitions and development, as well
as for general working capital and the payment of expenses related
to the Private Placement.
Completion of the Private Placement will be subject to certain
conditions precedent including, but not limited to, the receipt of
all necessary approvals, including the approval of TSX Venture
Exchange Inc. ("TSX Venture").
The Common Shares and Warrants will be subject to a four-month
hold period, in accordance with applicable securities law.
About New Sage
New Sage is a Canadian oil and gas exploration and development
company with a focus on opportunities in the US Gulf States region
and Latin America. New Sage is building a portfolio of production,
through exploration and development opportunities, with established
joint venture partners.
Forward-Looking Statements
This news release contains forward-looking statements that
involve risks and uncertainties. Forward-looking statements or
information are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which
could cause actual results to differ materially from those
anticipated by New Sage. The forward-looking statements or
information contained in this news release are made as of the date
hereof and New Sage does not undertake any obligation to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
The securities of New Sage being offered have not been, nor will
be, registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from U.S. registration
requirements. This release does not constitute an offer for sale of
securities in the United States.
Neither the TSX Venture nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: New Sage Energy Corp. Eric Fredrickson 416.309.4320
info@newsage.ca www.newsage.ca
New Sage Energy Corp. (TSXV:NSG)
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New Sage Energy Corp. (TSXV:NSG)
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