More matter with less art

Round Five! The “Friday-Night-Bury-That-News-While-Market-Players-Are-At-Happy-Hour” NR stakes

We have a winner folks! And to paraphrase William Shakespeare, as Jacques ends his ‘Seven Ages of Man’ speech;

Last scene of all, 
That ends this strange eventful history, 
Is second childishness and dilution oblivion, 
Sans teeth, sans eyes, sans gold, sans everything. 

San Gold (SGR.to) decided that Friday night was all right for this news release:

WINNIPEG, MANITOBA–(Marketwired – Aug. 16, 2013) – San Gold Corporation (TSX:SGR) (OTCQX:SGRCF) (“San Gold”) today announced an offering of 32,000,000 units of San Gold (“Units”) at a price of $0.125 per Unit for aggregate gross proceeds of $4,000,000. The Units will be purchased by a single strategic investor. Each Unit consists of one common share of San Gold (a “Common Share”) and one-half of one warrant (a “Warrant”). Each whole Warrant is exercisable into one Common Share at a price of $0.18 for a period of two years from the date of issuance.  

All securities issued will be subject to a four month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.  

These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

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