TORONTO, Nov. 26, 2012 /CNW/ - Waterton Global Value, L.P. (the "Offeror") acquired 8,333,333 units (the "Units") of Sage Gold Inc. ("Sage" or the "Issuer"), each Unit consisting of one common share (a "Share") and one half (1/2) of one common share purchase warrant (a "Warrant") at a price of $0.06 per Unit. Each whole Warrant entitles the Offeror to purchase one (1) common share at a price of $0.10 for a period of twenty four (24) months following November 21, 2012. The Units were acquired pursuant to a private placement offering by Sage which closed on November 21, 2012 (the "Private Placement").
In addition to the Units, the Offeror is the beneficial owner of 6,000,000 common shares (the "Common Shares") of Sage. The Units and the Common Shares represent approximately 19.29% of the issued and outstanding shares of Sage, assuming exercise of the Offeror's Warrants.
The Offeror acquired the Units that are the subject of this press release for investment purposes. However, the Offeror may, depending on various factors including, without limitation, market and/or other conditions, increase or decrease its ownership, control or direction over securities of the Issuer.
In this press release, for the purpose of calculating the ownership percentage in the capital of Sage, the Offeror has assumed that there are 95,897,973 common shares outstanding as of November 22, 2012, as reported by Sage after giving effect to the Private Placement.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Sage is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Sage's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Peter Poole at 1-284-494-8086.
This press release may contain forward-looking statements with respect to the Offeror, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, and changes in government regulations. The cautionary statements qualify all forward-looking statements attributable to the Offeror and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Offeror has no obligation to update such statements.
Neither 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 this release.
SOURCE: Waterton Global Value, L.P.
For further information:
Peter Poole at 1-284-494-8086