WINNIPEG, March 5, 2015 /PRNewswire/ - San Gold Corporation
(TSX: SGR) ("San Gold" or the "Company") announced today that,
pursuant to an order (the "Order") of the Court of Queen's Bench
(Winnipeg Centre) (the "Court") dated February 26, 2015 San Gold Corporation ("San
Gold") obtained Court approval to conduct a Sale and Investor
Solicitation Process ("SISP"). Pursuant to the SISP and the
Order, Beacon Securities Limited is soliciting proposals from
strategic and financial parties to acquire the property, assets and
business of, or to invest in 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.
The SISP is being carried out pursuant to the San Gold's Notice
of Intention ("NOI") to make a proposal to its creditors. MNP Ltd.
is the proposal trustee for the NOI process and will also supervise
the SISP.
Interested parties may obtain additional information by
contacting Beacon Securities Limited at:
Beacon Securities Limited
Stephen J. A. Delaney, Director,
Investment Banking
(416) 507-3965
sdelaney@beaconsecurities.ca
Materials related to the NOI proposal process may be found at
the website of MNP Ltd. at
http://mnpdebt.ca/en/corporate-insolvency/corporate-engagements/pages/details.aspx?title=san-gold-corporation.
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
listed on the Toronto Stock Exchange under the symbol "SGR".
Cautionary
Note
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. This news release includes certain "forward-looking
statements". All statements, other than statements of historical
fact included in this release are forward-looking statements that
involve various risks and uncertainties.
Any statements that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements." Forward-looking statements
are subject to a variety of risks and uncertainties that could
cause actual events or results to differ from those reflected in
the forward-looking statements.
There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations include those factors
discussed in the section entitled "Other MD&A Requirements and
Additional Disclosure and Risk Factors" in the Company's most
recent quarterly Management's Analysis and Discussion ("MD&A").
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
SOURCE San Gold Corporation