ValGold Completes Non-Brokered Private Placement Financing
04 Maio 2011 - 10:30AM
Marketwired
ValGold Resources Ltd. (TSX VENTURE: VAL)(FRANKFURT: VR2)
("ValGold" or the "Company") is pleased to announce that it has
completed its non-brokered private placement previously announced
April 12 and April 27, 2011. A total of 6,785,000 common shares
(the "Shares") were sold at a price of $0.27 per share (the
"Offering") for gross proceeds of $1,831,950.
Compensation was paid to a certain eligible arm's-length party
(the "Finder") in consideration for securing subscribers for the
Offering. The compensation is comprised of two components
consisting of a Finder's commission totaling 180,000 common shares
(equal to 5% of the gross proceeds raised from the Offering
attributable to the Finder) as well as Finder's Warrants totaling
180,000 non-transferable common shares (equal to 5% of the number
of Shares sold in the Offering attributable to the Finder). Each
Finder's Warrant is exercisable to acquire one common share in the
capital of the Company at a price of $0.30 per share and expires 18
months after closing expiring on November 3, 2012.
All securities issued with respect to this non-brokered private
placement are subject to a four months plus one day hold period
expiring on September 4, 2011, in accordance with the policies of
the TSX Venture Exchange and the provisions of the Securities Act
(British Columbia).
The proceeds from the non-brokered private placement will be
used for the maintenance of ValGold's exploration properties and
for general working capital.
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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