San Gold Corporation (SGRCF)

[NYBob]

San Gold Obtains Order Approving Additional DIP Loan
T.SGR | 13 hours ago

/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

WINNIPEG, Feb. 24, 2015 /CNW/ -

San Gold Corporation (TSX: SGR) ("San Gold" or the "Company")
announces that it has obtained an order approving, among other things,
additional debtor-in-possession financing from B Asset Holdings LLC (the
"Lender") in an amount up to US$3.5 million pursuant to a term sheet
between the Company and the Lender dated February 18, 2015.

San Gold also announces that is has obtained a secured loan in the amount
of US$1,956,691 from the Lender pursuant to the financing in accordance
with the above noted order. The loan is evidenced by a secured demand
promissory note (the "Note") issued to the Lender by San Gold.

For further information on San Gold, please visit

http://www.sangold.ca

or contact: Greg Gibson, President and CEO;
Mandeep Rai,
Chief Financial Officer; Toll Free: 1 [phone],
[e-mail]
Copyright CNW Group 2015

Canada Newswire
February 24, 2015 - 12:00 PM EST
Tags: GOLD