WINNIPEG, March 5, 2015 /CNW/ - 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
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".
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
For further information: on San Gold, please visit www.sangold.ca or contact: Greg Gibson, President and CEO; Mandeep Rai, Chief Financial Officer; Toll Free: 1 (855) 585-4653, [email protected]