09:45 AM EST - Sage Gold Inc. : has entered into an agreement to acquire the remaining 40% interest in the Clavos Gold property located in Timmins, Ontario from St Andrew Goldfields Ltd. As part of the agreement, Sage is required to pay St Andrew $1,000,000 in cash, and enter into a 2% Net Smelter Return Royalty. In accordance with the agreement, Sage may at any time purchase one-half of the Royalty by providing St Andrew written notice as well as a cash payment of $1,000,000, which will thereby reduce the Royalty rate to 1%. Sage Gold Inc.
shares V.SGX are trading unchanged at $0.02.
