San Gold Corporation (TSX:SGR) announced that it has entered into an agreement for a private placement of secured demand promissory note with new investor a fund managed by B Asset Manager LP for gross proceeds of $2,569,250 on December 17, 2014. The note will have a fixed interest rate of 14% per annum payable monthly. The note is secured by the company's assets.

On the same day, the company has received $1,669,250 in its first tranche. It paid a commitment fee of $250,000. Remaining $900,000 is expected to receive on or about December 29, 2014.