Key Gold Holding Closes Private Placement, Changes Auditors and Announces Annual Shareholders Meeting
20 Diciembre 2010 - 3:17PM
Marketwired
Key Gold Holding Inc. (TSX VENTURE: KGH) ("Key Gold") is pleased to
announce the closing of the balance of the private placement
disclosed in its press release dated September 1st, 2010, pursuant
to which 3,780,000, shares were issued at a price of $0.125 per
share for proceeds of $472,500.
The company has paid total intermediary fees of $23,968 in
relation with the closing of this second tranche of the private
placement. One insider of the company participated in the private
placement.
All the securities issued pursuant to the private placements are
subject to a mandatory hold period of four months following the
closing date.
Key Gold will use the proceeds of the private placements for
working capital purposes and for exploration expenditures.
Annual and Special Shareholders' Meeting
Key Gold also announces that its Annual and Special Meeting of
Shareholders will be held at 10:00 a.m. on January 19, 2010, at the
Hotel Plaza, 3031 Laurier Blvd., Quebec, Quebec.
Change of Auditor
Key Gold would also like to announce that it has changed its
auditor. Malette LLP (the "Former Auditor") has resigned, at the
request of the company, effective as of December 13, 2010 and
Brunet Roy Dube C.A. (the "Successor Auditor") has been appointed.
The change in auditor has been approved by Key Gold's Audit
Committee and Board of Directors.
There were no reservations in the Former Auditor's reports in
connection with the two most recently completed fiscal years or for
any period subsequent to the most recently completed period for
which an audit report was issued. There were also no reportable
events between Key Gold and the Former Auditor or the Successor
Auditor including disagreements, unresolved issues or consultations
as defined in National Instrument 51-102, Continuous Disclosure
("NI 51-102").
All procedures have been properly followed under NI 51-102
regarding the change of auditor and, as required, a Notice of
Change of Auditor together with the required letters from the
Former Auditor and the Successor Auditor will be filed via SEDAR
with each securities commission in each province or territory in
Canada in which Key Gold is a reporting issuer.
PLEASE NOTE THAT THE FOLLOWING SECTIONS OF THE PRESS RELEASE
DATED DECEMBER 9, 2010 SHOULD HAVE BEEN READ AS FOLLOWS:
The Property consists of 56 claims and is strategically located
in the vicinity of Metanor, Amseco, Bonterra, and Eagle Hill near
Lebelle-sur-Quevillon in the Province of Quebec.
Pursuant to an arm's length purchase agreement made between Key
Gold, Rivercrest Resources Inc. and Glen Eagle Resources Inc. (the
"Agreement"), Key Gold will acquire a 100% interest in the Property
in exchange for cash payments totaling $490,000, the issuance of
5,500,00 common shares of Key Gold and exploration expenditures
totaling $1,750,000 in accordance with the following schedule:
------------------------------------------------------------------------
Dates Cash Payments Share Issuances Work Commitments
------------------------------------------------------------------------
Within 10 Business Days
of the TSXV approval $40,000 1,030,000 -
------------------------------------------------------------------------
Within one year of the
signing date of the
Agreement $150,000 1,220,000 $750,000
------------------------------------------------------------------------
Within two year of the
signing date of the
Agreement $150,000 1,500,000 $1,000,000
------------------------------------------------------------------------
Within tree year of the
signing date of the
Agreement $150,000 1,750,000 -
------------------------------------------------------------------------
About Key Gold Holding Inc.
Key Gold Holding Inc. is a mineral exploration company that is
mainly focused on company focused on the acquisition, exploration
and development of gold and copper properties.
Forward looking Statement
This document contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not
under the corporation's control which may cause actual results,
performance or achievements of the corporation to be materially
different from the results, performance or expectation implied by
these forward looking statements.
Shares outstanding: 18,360,574
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Louis Lessard President 514-650-4171
Pangolin Diamonds Corporation (TSXV:KGH)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Pangolin Diamonds Corporation (TSXV:KGH)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024