South American Gold Corp. (OTCPK:SAGD) announced a private placement of unsecured convertible promissory note for gross proceeds of $10,200 on November 14, 2013. The notes will bear an 8% interest and shall mature on July 18, 2014. The company will issue notes to existing accredited investor Asher Enterprises, Inc. The notes may be converted into common shares of the company at the option of the investor at a conversion price equal to 45% of the market price of the company's common stock during the 10 trading days prior to the conversion notice. The notes shall be issued pursuant to exemption provided under Regulation D. Bernard S. Feldman of Naidich Wurman Birnbaum & Maday, LLP shall act as the legal counsel for Asher Enterprises, Inc.

On November 22, 2013, South American Gold Corp. closed the transaction.