Sovereign Gold Company Limited - Bergen Converts Note to Equity - Appendix 3B
02.05.2014 | ABN Newswire
Sydney, Australia (ABN Newswire) - Sovereign Gold Company Ltd. (ASX: SOC) (Sovereign Gold) advises that Bergen Global Opportunity Fund II, LLC (Bergen) today has converted $200,000 of its Convertible Note to equity in accordance with the Convertible Note issued in December 2013.Sovereign Gold has issued 3,472,222 Sovereign Gold Shares at a value of $0.0576 per share to Bergen. Please see link below for appendix 3B.
About Bergen Asset Management
Bergen Asset Management is a New York-based asset management company that invests in high growth public and private companies around the world with a particular emphasis on the mature markets in Asia-Pacific. Bergen has made a number of investments in the Australian junior resources sector, and has successfully backed a number of ASX-listed companies.
Sovereign Corporate Restructure
Sovereign Gold has embarked on a substantial asset rationalisation and Corporate Restructure.
Upon the successful completion of the Corporate Restructure currently being undertaken by Sovereign Gold, through an effective rationalisation and simplification of the asset portfolio, the intrinsic value of the Company will be highlighted and significantly more transparent. The rationalisation will deliver a simpler and more efficient corporate structure. Shareholders will consider the Corporate Restructure at a general meeting to be convened.
To view Appendix 3B, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-795349.pdf
About Sovereign Gold Company Limited:
Sovereign Gold Company Ltd. (ASX:SOC) is an Australian-based gold exploration and development company that holds a highly prospective tenement package, for Intrusion-Related Gold Systems (IRGS), in New South Wales, Australia. Sovereign Gold holds 11 Exploration Licences covering over 3,240km2 near Armidale in NSW, including the historic Rocky River-Uralla Goldfields. Sovereign Gold's aggressive exploration program in several of these licence areas is funded via a joint venture (at the tenement level) with Jiangsu Geology & Engineering Co Ltd (SUGEC), a major Chinese State-owned geology enterprise. The other area of focus is the Mt. Adrah Project, approximately 50km southeast of the regional NSW centre of Wagga Wagga and 23km northwest of the historic mining district of Adelong, via an 87% interest in unlisted Gossan Hill Gold Limited. This area contains the recently discovered, world-class, Hobbs IRGS deposit which is currently under evaluation.
Contact:
Sovereign Gold Company Ltd.
Henry Kinstlinger, Investor Relations
Tel: +61-2-9251-7177
www.sovereigngold.com.au
