Sage Gold and Consolidated Puma Announce Shareholder Approval of Plan of Arrangement
July 23 2009 - 12:20PM
Marketwired
Sage Gold Inc. (TSX VENTURE: SGX) ("Sage") and Consolidated Puma
Minerals Corp. (TSX VENTURE: CPW) ("Puma") are pleased to announce
that shareholders of Puma have today approved the proposed Plan of
Arrangement between Puma and Sage.
Completion of the transaction is subject to approval of the
British Columbia court and the TSX Venture Exchange. Puma and Sage
anticipate that closing of the Plan of Arrangement will take place
on or about August 6, 2009.
Nigel Lees, Sage's President and CEO commented that, "Combining
with Puma creates a strong platform to implement our business plan
and continue an aggressive exploration program on the principle
properties in the Beardmore Geraldton Gold camp. This is the first
acquisition in the Company's strategy to leverage its strong
management team and exciting properties to grow the company and
enhance shareholder value."
Sage is a mineral exploration and development company which has
interests in exploration properties in Ontario, Quebec, Nevada and
Arizona. Its main properties are the Jacobus, Paint Lake, Solomon
Pillars and Onaman properties in the Beardmore Geraldton Gold camp
and the Kerrs property in Ontario; and the Gold Hill property in
Arizona. Technical reports relating to the properties can be
obtained from the System for Electronic Document Analysis and
Retrieval ("SEDAR") website at www.sedar.com.
Puma is a mineral exploration and development company which
previously owned a platinum group metals exploration property in
the Kola Peninsula of Northwest Russia, and currently has more than
$3 million of cash. Further information can be obtained from the
SEDAR website at www.sedar.com.
This release was prepared by management of the Sage and Puma who
takes full responsibility for its contents.
Some statements contained in this release are forward-looking
and, therefore, involve uncertainties or risks that could cause
actual results to differ materially. Such forward-looking
statements include comments regarding mining and milling
operations, mineral resource statements and exploration program
performance. Factors that could cause actual results to differ
materially include metal price volatility, economic and political
events affecting metal supply and demand, fluctuations in
mineralization grade, geological, technical, mining or processing
problems, exploration programs, future results of exploration
programs, future profitability and production, and general market,
economic and financing conditions. Sage and Puma disclaim any
obligation to update forward-looking statements.
Neither TSX Venture Exchange nor its Regulations Service
provider accepts responsibility for the adequacy or accuracy of
this news release.
Contacts: Sage Gold Inc. Nigel Lees President and CEO
416-204-3170 416-260-2243 (FAX) Sage Gold Inc. Mike O'Brien
Manager/Investor Relations 416-204-3170 416-260-2243 (FAX)
www.agoracom.com/IR/sagegold sgx@agoracom.com Consolidated Puma
Minerals Corp. Vahan Kololian President and CEO 416-644-6000
416-644-6001 (FAX) www.consolidatedpuma.com
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