SGX Resources Inc. Announces Sale of Mineral Claims to Lexam VG Gold Inc.
WINNIPEG, MANITOBA--(Marketwired - March 3, 2015) -
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Dale Ginn, President and CEO of SGX Resources Inc. ("SGX") (TSX VENTURE:SXR), is pleased to announce that SGX has entered into an agreement with Lexam VG Gold Inc. ("Lexam") to sell its 31.5% interest in its Davidson Tisdale property and its 100% interest in its North Tisdale Property to Lexam. The Davison Tisdale Proprety and the North Tisdale Property are located in the Timmins gold district. The aggregate consideration to be paid to SGX for these claims consists of a cash payment of $130,000 and the forgiveness of certain amounts owing by SGX to Lexam for development work on such properties. The sale is subject to a satisfactory due diligence review by Lexam regarding the claims and certain other standard conditions. It is anticipated that the sale of the claims will be completed within the next month.
"This sale will allow SGX to move ahead with the development of its core properties of Edleston and Tully by freeing up resources to dedicate to those properties", said Dale Ginn, Chief Executive Officer of SGX.
A copy of this press release will be made available on the Company's website and will be filed with SEDAR.
NOTE: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.
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