San Gold Closes $50 Million Offering of Convertible Debentures
San Gold Corporation (SGR.TO) has closed its previously announced bought deal offering of 8.00% convertible unsecured subordinated debentures due March 31, 2018 of the company with a syndicate of underwriters co-led by Scotiabank and CIBC.
The net proceeds of the offering will be used to fund continued development of the company's mineral properties, in particular the Rice Lake Complex, and for general working capital purposes.
SGR stocks were up nearly 2% to 27 cents, trading close to 52-week low 24 cents.
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