San Gold Corporation (SGRCF)

[goldenpolarbear]

"San Gold Announces Secured Loan
WINNIPEG, MANITOBA--(Marketwired - Dec. 17, 2014) -...

San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) ("San Gold" or the "Company") announced today that it has obtained a secured loan in the amount of US$1,669,250 from a fund managed by B Asset Manager LP (the "Lender"). The loan is evidenced by a secured demand promissory note (the "Note") issued to the Lender by San Gold. The Note is secured by a debenture granted to the Lender over all of the assets of San Gold. The Note bears interest in the amount of 14% per annum and interest is payable monthly, in advance. San Gold paid a commitment fee of $250,000 to the Lender as partial consideration for the provision of the loan. The Note is repayable on demand or in certain other circumstances at the option of the Lender. The Note is not convertible into other securities of San Gold.

The Lender has also reached an agreement with San Gold to provide an additional loan in the amount of US$900,000 on or about December 29, 2014 on the same terms, subject to the Lender's approval at that time.

The net proceeds from the sale of the Note will be used by San Gold to fund its operations...."

http://sangold.mwnewsroom.com/press-releases/san-gold-announces-secured-loan-tsx-sgr-201412170984528001

http://www.temexcorp.com/s/news.asp?ReportID=688455

"Resignation of Director

December 18, 2014 (TORONTO, ONTARIO): Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company" or "the Corporation") announces today that Mr. Gregory Gibson has resigned as a Director of the Board of Directors of the Corporation so that he may focus his efforts on his duties as CEO and a Director of San Gold Corporation, President, CEO and Director of Kerr Mines and as a director other exploration companies.

Commented Ian Campbell, President and CEO of Temex Resources Corp., "On behalf of the Board of Directors and the Temex team, I would like to thank Greg for his contributions over the past two and a half years and wish him well in his future endeavours."

Temex is actively exploring the Whitney Gold Project in Timmins and is on schedule for completion of the permitting stage in preparation for an advanced exploration program targeted for 2015...."