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SCX.H Sagittarius Capital Corp

0.05
0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sagittarius Capital Corp TSXV:SCX.H TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.01 0.01 0.00 01:00:00

Sagittarius Capital Corporation to Provide Advances to Alpaca Resources Inc.

10/02/2012 9:38pm

Marketwired Canada


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


Sagittarius Capital Corporation (TSX VENTURE:SCX.H) ("Sagittarius", the
"Company" or the "CPC"), a capital pool company, would like to announce that
subject to TSX Venture Exchange ("TSXV") and other necessary approvals, and
prior to closing its proposed qualifying transaction, it has agreed to provide
advances to Alpaca Resources Inc. ("Alpaca") of up to $100,000, of which $25,000
was advanced to Alpaca in January, 2012 as permitted by CPC Policy 2.4, under
Section 8.5(b). Alpaca is a private Ontario-based gold and junior copper
exploration company. The funds will be used by Alpaca for property payments and
ongoing non-related party expenses. 


The loan bears the simple interest rate of 18% per annum; the maturity date is
May, 31, 2012. A $10,000 structuring fee will be payable to the Company at
maturity in addition to the payable interest. The loan is secured by a general
security agreement as well as a pledge of the shares in the capital of Alpaca's
wholly owned subsidiary, Cave Creek Gold Corp. The Company has advanced $25,000
to Alpaca to fund January property commitments and certain mutually agreed legal
costs; the second and third advances must be matched dollar-per-dollar from
other sources of investments into Alpaca. The loan facility is uncommitted; the
Company has the right to elect prior to each advance not to make further
advances. 


About Alpaca Resources Inc.

Alpaca Resources Inc. is a Canadian junior exploration company with two advanced
exploration-stage projects in the Western United States: the Iron Butte gold
project in Nevada and the Hill Copper project in Arizona.


About Sagittarius Capital Corporation

The Company is a NEX-listed company, classified as a Capital Pool Corporation as
defined in TSXV Policy 2.4 having raised $738,000 in conjunction with its
initial public offering in February 2008. The Company's principal business is
the identification and evaluation of assets or businesses with a view to
completing a Qualifying Transaction within the meaning of TSXV policies.


Completion of the Qualifying Transaction is subject to a number of conditions
including, but not limited to, TSXV acceptance and, if applicable pursuant to
TSXV requirements, majority of the minority shareholder approval. Where
applicable, the Qualifying Transaction cannot close until the required
shareholder approval is obtained. There can be no assurance that the Qualifying
Transaction will be completed as proposed, or at all.


Investors are cautioned that, except as disclosed in the filing statement to be
prepared in connection with the Qualifying Transaction, any information released
or received with respect to the transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.


The information disclosed in this press release regarding Alpaca was provided by
Alpaca without review or investigation by Sagittarius, and as such, Sagittarius
does not accept any responsibility for the accuracy of such disclosure.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "anticipated", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Sagittarius is subject to significant
risks and uncertainties which may cause the actual results, performance or
achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward looking statements contained in
this release. Sagittarius cannot assure investors that actual results will be
consistent with these forward looking statements and Inspiration assumes no
obligation to update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.


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