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Sagebrush Gold Announces Reduction of Debt and Conversion of Debt for Shares
Nov. 01, 2011 08:30AM PST
Gold InvestingSagebrush Gold, Ltd. (OTCBB:SAGE) and Continental Resources Group, Inc. (OTCBB:CRGC) announced today that Sagebrush Gold has prepaid $700,000 of the previously announced $1.7 million loan facility provided to the Company.
As quoted in the press release:
The Company also announced that a total of 5 convertible note holders, including Company Chairman Barry Honig, have converted their outstanding notes for shares in Sagebrush Gold at a conversion price of $0.65 per share. In total, $600,000 of notes were converted, plus accrued interest of $22,500, with the Company issuing 957,692 shares in exchange.
Click here to read theSagebrush Gold (OTCBB:SAGE) press release.
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