American Sierra Gold secures $110,000 via convertible loan financing

Convertible debt issued to single investor MMC Mines in two tranches

By Devika Patel

Knoxville, Tenn., Dec. 19 - American Sierra Gold Corp. settled a convertible loan financing with MMC Mines, Inc. for $110,000, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Of the proceeds, $90,000 settled on Dec. 5 and $20,000 on Dec. 6.

The loan is convertible into common stock at a conversion price set at $0.05, which is a 58.33% discount to the Dec. 4 closing share price of $0.12.

The gold explorer is based in Reno, Nev.

Issuer:	American Sierra Gold Corp.
Issue:	Convertible loan
Amount:	$110,000
Conversion price:	$0.05
Warrants:	No
Investors:	MMC Mines, Inc.
Settlement dates:	Dec. 5 (for $90,000), Dec. 6 (for $20,000)
Stock symbol:	OTCBB: AMNP
Stock price:	$0.12 at close Dec. 4

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