New Sage Provides Corporate Update
November 29 2011 - 6:21PM
Marketwired
New Sage Energy Corp. (TSX VENTURE:NSG) ("New Sage" or the
"Corporation") announces that, further to its previously issued
press release on October 25, 2011, New Sage intends to complete a
private placement offering (the "Offering") of up to 12,000,000
units of the Corporation ("Unit") at a price of $0.05 per Unit for
gross proceeds of up to $600,000. Each Unit will consist of one
common share in the capital of the Corporation ("Common Share") and
one share purchase warrant ("Warrant"), with each whole Warrant
entitling the holder thereof to purchase one Common Share at a
price of $0.10 per share for a period of two (2) years from the
date of closing.
The Corporation intends to use the net proceeds from the
Offering for exploration on new projects, acquisitions and
development, general working capital and the payment of expenses
related to the Offering.
Completion of the Offering will be subject to certain conditions
precedent including, but not limited to, the receipt of all
necessary approvals, including the approval of TSX Venture Exchange
Inc.
The Common Shares and Warrants will be subject to a four-month
hold period, in accordance with applicable securities law.
The Corporation may pay a commission or finder's fee to
registered holders and other finders of to up to 7% of the gross
proceeds of the Offering, subject to compliance with applicable
securities laws. The Corporation also may issue broker warrants
(the "Broker Warrants") to registered dealers or other finders
equal to up to 7% of the number of Units sold in the Offering. Each
Broker Warrant will entitle the holder to acquire one Unit at a
price of $0.05 per Unit for a period of up to two years.
New Sage also announces that it has filed its Form 51-101F1 and
Form 51-101F3 for the years ended March 31, 2011 and March 31, 2010
in accordance with National Instrument 51-101 - Standards of
Disclosure for Oil and Gas Activities.
About New Sage
New Sage is a Canadian oil and gas exploration and development
company with a focus on opportunities in Latin America. New Sage is
building a portfolio of production through exploration and
development opportunities with established joint venture
partners.
Forward-Looking Statements
This news release contains forward-looking statements that
involve risks and uncertainties. Forward-looking statements or
information are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which
could cause actual results to differ materially from those
anticipated by New Sage. The forward-looking statements or
information contained in this news release are made as of the date
hereof and New Sage does not undertake any obligation to update
publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
The securities of New Sage being offered have not been, nor will
be, registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from U.S. registration
requirements. This release does not constitute an offer for sale of
securities in the United States.
Neither the TSX Venture nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: New Sage Energy Corp. John Carlesso
416-309-4324info@newsage.ca
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