sage gold inc (SGGDF) Key Developments
Sage Gold, Inc. Announces Executive Changes
Jul 7 14
Sage Gold, Inc. announced the appointment of Mr. Robert Ryan, CPA CA MBA, as Chief Financial Officer (CFO) of the Company. Mr. Ryan replaces Mr. Ron Reed, who will be moving on to other opportunities.
Joe Baylis Not to Stand for Re-Election as Director
Jun 19 14
Mr. Joe Baylis advised the Sage Board of Directors that he would not stand for re-election as a Director as he has accepted a position in Houston, Texas.
Sage Gold Inc. Proposes Amendment to Articles
May 16 14
The annual and special meeting of Sage Gold Inc. will be held on June 18, 2014. At the meeting the shareholders will propose amendment to the corporation's Articles to change the name of the company.
Sage Gold, Inc. Agrees with CNG Canada Inc. and Change Energy Inc. to Study Using Natural Gas at Clavos Property in Timmins Ontario
May 8 14
Sage Gold Inc. has agreed with CNG Canada Inc. and Change Energy Inc., to study the viability of utilizing natural gas supplied by the Union Gas natural gas pipeline located on the Clavos Property in Timmins Ontario. The opportunity is to provide compressed natural gas (CNG) to supplement and/or replace diesel fuel for surface mine equipment and surface haul trucks. CNG can also be used as a replacement for regular fuel by converting light-duty service vehicles to bi-fuel. The study will also examine the use of CNG as a replacement for propane for underground mine air heating and as an alternative energy source for the supply of electrical power. Sage has a published NI 43-101 mineral resource estimate for Clavos, which includes indicated mineral resources of 1,258,400 tonnes at 4.81 g/t Au totaling 194,600 ounces of gold and inferred mineral resources of 796,000 tonnes at 4.7 g/t Au representing 120,000 ounces. These mineral resources are reported at a base case cut-off grade of 2.75 g/t Au with individual assays capped at 60 g/t Au.
Sage Enters into Amendment Agreement with Waterton Global Value, L.P
May 7 14
Sage entered into an amendment agreement relating to its CAD 1.5 million senior secured term debt facility with Waterton Global Value, L.P. In the amendment agreement, Waterton agreed to extend the facility's maturity date from February 10, 2014 to May 9, 2014 and offered Sage the option to further extend the Maturity Date to August 8, 2014. Sage has exercised the Extension Option. As consideration for the modifications set out in the amendment agreement, Sage has agreed to pay Waterton, on the maturity date: CAD 75,000 for the extension of the maturity date to May 9, 2014; CAD 100,000 for the extension of the maturity date to August 8, 2014; and CAD 20,000 in lieu of the issuance of one million common shares in the capital of Sage originally promised to Waterton as consideration for the Extension Option.