CAP Castle Peak Mining Ltd

Castle Peak Mining Ltd. (TSX VENTURE:CAP) - 

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR
DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES 


Castle Peak Mining Ltd. ('Castle Peak' or the 'Company') is pleased to announce
that it has successfully closed the first tranche (the "First Tranche") of the
previously announced offering of 12,000,000 units (the "Units") at a price of
$0.25 per Unit for gross proceeds of $3,000,000 (the "Offering"). The First
Tranche represented 5,470,000 Units sold to Grizal Enterprises Ltd. ("Grizal")
for gross proceeds of $1,367,500. The second tranche (the "Second Tranche") of
6,530,000 Units also priced at $0.25 per Unit for gross proceeds of $1,632,500
was also subscribed for by Grizal and is expected to close as soon as
practicable following receipt of clearance of all required documentation by the
TSX Venture Exchange ("TSX-V"). Each Unit consists of one common share of the
Company and one-half of one share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant allows the holder to purchase one common share of the
Company at an exercise price of $0.50 on or before March 16, 2014, subject to
acceleration and/or adjustment in certain stated events. 


Grizal is a BVI registered limited liability company whose investment interests
are focused on metals mining and exploration sectors. Particularly, Grizal
currently concentrates its efforts on Ghanaian gold deposits reconnaissance.
Grizal fully supports Castle Peak's objectives to further explore the gold
potential of the Akorade Project. 


The Offering is subject to receipt of all necessary approvals including the
acceptance of the TSX-V. Proceeds from the Offering will be used to fund the
2012 exploration program at Castle Peak's Akorade project in Ghana, as well as
working capital. 


In connection with Offering, the Company entered into an agency agreement dated
March 16, 2012 with Euro-Pacific Canada Inc. (the "Agent"). The Company will pay
a cash commission to the Agent equal to 3.5 percent of the total gross proceeds,
with $47,862.50 paid in connection with the closing of the First Tranche. Castle
Peak also agreed to issue non-transferable broker warrants with an exercise
price of $0.25 per share exercisable for a period of 12 months from the date of
closing to acquire such number of common shares as is equal to 7% of the
aggregate number of Units issued under the Offering to the Agent and its
permitted assigns, with 382,900 broker warrants issued in connection with the
closing of the First Tranche.  


All securities issued under the Offering are subject to customary securities law
hold periods and those securities issued under the First Tranche will not become
freely tradable until July 17, 2012. 


Management Changes 

Additionally, Castle Peak announces the resignation of Giovanna Martino as
Corporate Secretary effective January 31, 2012. Paula Rogers, Chief Financial
Officer, will act as the interim Corporate Secretary until further notice.


About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company
focused on advancing greenfields and early stage gold projects. The Company
holds a strategic land package in the Ashanti belt adjacent to several producing
gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most
prolific gold belts in the world with over 150 million proven ounces uncovered
and current investment in excess of $3.3B USD. 


On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer    

For additional information please visit www.castlepeakmining.com.

The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States, or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any
jurisdictions in which such offer, solicitation or sale would be unlawful. Any
offering made will be pursuant to available prospectus and registration
exemptions and restricted persons to whom the securities may be sold in
accordance with the laws of such jurisdictions and by persons permitted to sell
the securities in accordance with the laws of such jurisdictions. 


FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain
'forward-looking information' and 'forward-looking statements' within the
meaning of applicable securities laws including statements regarding the
Offering, the anticipated use of proceeds and the anticipated timing of the
closing of the Second Tranche of the Offering. Such forward-looking statements
are based on the opinions and estimates of management at the date the statements
are made, and are subject to known and unknown risks, uncertainties and
assumptions that could cause actual results to vary materially from the
anticipated results or events predicted in these forward-looking statements,
including those risk factors identified in the Company's Filing Statement filed
under the Company's SEDAR profile. As a result, readers are cautioned not to
place undue reliance on these forward-looking statements. The forward-looking
statements contained in this news release are made as of the date of this
release. Except as required by applicable law, Castle Peak disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.

Castle Peak Mining (TSXV:CAP)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Castle Peak Mining (TSXV:CAP)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024