ValGold Reports $1.8 Million Non-Brokered Financing
12 Abril 2011 - 8:30AM
Marketwired
ValGold Resources Ltd. (TSX VENTURE: VAL)(FRANKFURT: VR2)
("ValGold" or the "Company") is pleased to report that, subject to
regulatory approval, it will carry out a non-brokered private
placement of 6,500,000 common shares (the "Shares") at a price of
$0.27 per Share for gross proceeds of $1,755,000 (the "Offering").
The closing date of the Offering is expected to be on or about
April 18th, 2011.
ValGold may pay finders' fees in respect of the Offering
consisting of cash fees of up to 5% of the gross proceeds raised
from Offering. Finders may also receive Finder warrants (the
"Finder Warrants") entitling them to purchase that number of common
shares which is equal to 5% of the number of Shares sold in the
Offering. The Finder Warrants will expire eighteen months after the
closing of the Offering. ValGold common shares are listed on the
TSX Venture Exchange under the symbol VAL. The securities issued in
connection with the Offering will be subject to a four month hold
or restricted period in Canada commencing on the closing date.
The net proceeds of the Offering shall be used for the
maintenance of ValGold's exploration properties and for general
working capital.
Closing of this Offering and any payment of finders' fees are
subject to the acceptance of the TSX Venture Exchange.
ValGold is pleased to also report that subject to the approval
of the regulators it has sufficient expressions of interest to
satisfy the private placement. As such, the Company intends to
close the offering as soon as possible.
For more information on ValGold's Canadian gold projects (Tower
Mountain and Garrison) and its international projects, please visit
our website at www.valgold.com.
Stephen J. Wilkinson, President and Chief Executive Officer
This news release includes "forward-looking information". All
statements in this release that address the private placement
forward-looking information and are based on a number of
assumptions, including, but not limited to, that regulatory
approval for the private placement will be obtained and that there
will not be substantial changes to market conditions or regulatory
requirements. Although the Company believes the expectations
expressed in such forward-looking information are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking information. Factors
that could cause actual results to differ materially from those in
forward-looking information include changes the price of the
company's shares and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements.
SEC 12g3-2(b): 82-3339
Neither TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: ValGold Resources Ltd. Cindy Chu Investor Relations
(604) 687-4622 (604) 687-4212 (FAX) info@valgold.com
www.valgold.com
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