WINNIPEG, April 27 /CNW/ - Mr. Hugh Wynne, CEO of SGX Resources Inc.
(the "Corporation"), a company listed on the TSX Venture Exchange under
the symbol "SXR", today announced the closing of its previously
announced private placement offering (the "Offering") of flow-through
units ("Flow-Through Units") at a price of $0.30 per Flow-Through Unit
and non flow-through units ("Non Flow-Through Units") at a price of
$0.25 per Non Flow-Through Unit. At closing the Corporation issued
300,000 Flow-Through Units and 1,200,000 Non Flow-Through Units for
aggregate gross proceeds of $390,000. The net proceeds of the Offering
will be used for continuing exploration on the Timmins gold properties
of the Corporation.
Each Flow-Through Unit was comprised of one common share of the
Corporation issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one common share purchase warrant (a "Warrant"). Each Non
Flow-Through Unit was comprised of one regular common share of the
Corporation and one Warrant. Each Warrant entitles the holder thereof
to purchase one common share of the Corporation at a price of $0.35 per
share until the date that is two years from the date of issuance. The
securities issued pursuant to the Offering will be restricted from
transfer for a period of four months and a day in accordance with
applicable securities laws.
No finder's fee was paid in connection with the Offering. No broker
warrants were issued in connection with the Offering.
The closing of the Offering is subject to the final approval of the TSX
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the contents of
this News Release.
SOURCE SGX Resources Inc.
For further information:
Hugh Wynne, Chief Executive Officer of SGX Resources Inc., at (204) 791-1723