Sage Gold, Inc. (TSXV:SGX) entered into an agreement to acquire the remaining 40% stake in Clavos Gold Property from St Andrew Goldfields Ltd. for CAD 1 million in cash on October 24, 2016. Sage Gold, Inc. will also grant a 2% net smelter return royalty over Clavos Gold Property. As per the agreement Sage Gold, Inc. may at any time purchase one-half of the royalty by providing Kirkland Lake Gold written notice as well as a cash payment of CAD 1 million, which will thereby reduce the royalty rate to 1%. On completion of this agreement, Sage Gold, Inc. will own 100% of Clavos Gold Property, subject to certain pre-existing royalty interests. The agreement is subject to a number of conditions including the completion of an equity investment of CAD 1.85 million by CRH Mezzanine Pte. Ltd. and regulatory approval. This equity investment forms part of the CAD 11.5 million financing package to be provided by Cartesian Royalty Holdings Pte. Ltd. The financing will be used to fund the deal, the development and restart of the Clavos Gold project, retire outstanding secured debt and fund working capital. Sage Gold, Inc. (TSXV:SGX) completed the acquisition of the remaining 40% stake in Clavos Gold Property from St Andrew Goldfields Ltd. on November 21, 2016.