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