ValGold Announces Increase in Non-Brokered Financing
27 Abril 2011 - 10:30AM
Marketwired
ValGold Resources Ltd. (TSX VENTURE: VAL)(FRANKFURT: VR2)
("ValGold" or the "Company") announces that due to increased
demand, the Company has agreed to increase the non-brokered private
placement originally outlined in its April 12, 2011 news release.
The Company is increasing the private placement by an additional
285,000 shares to a total of 6,785,000 common shares (the "Shares")
at a price of $0.27 per share (the "Offering"). The Offering will
generate total gross proceeds of $1,831,950, which will be used for
the maintenance of ValGold's exploration properties and for general
working capital. The Company has received all subscriptions and
intends to file and seek approval from the TSX Venture Exchange
immediately.
Stephen Wilkinson, President and CEO of ValGold commented, "This
is an exciting time for our Company. We are advancing a number of
promising gold and gold-copper projects and are looking at some
great potential acquisitions. This offering strongly complements
the capital coming with our recently announced deal to sell our
interest in the Garrison Gold Property and will catapult us further
along our development plans. In addition, the level of response to
this offering is definitely a vote of confidence from our investors
and we are pleased to be partnering with them to bring our plans to
fruition."
As previously announced, ValGold may pay finders' fees equal to
up to 5% of the gross proceeds raised in the Offering. These
finders' fees may be paid in cash or in common shares of the
Company. In addition, the finders will receive finder warrants (the
"Finder Warrants") entitling them to purchase that number of common
shares that is equal to up to 5% of the number of Shares sold in
the Offering at a price of $0.30 per share. The Finder Warrants
will expire eighteen months after the closing of the Offering.
ValGold's 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 of the Offering.
Closing of this Offering and any payment of finders' fees are
subject to the acceptance of the TSX Venture Exchange.
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, other than statements of historical
facts, that address the private placement or mineral exploration
programs contain forward-looking information and are based on a
number of assumptions, including, but not limited to, that there
will not be substantial changes to market conditions, regulatory
requirements or costs associated with mineral exploration. 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, the
costs of labor, equipment and other costs associated with
exploration, exploration successes, continued availability of
capital and financing, 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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