Canada Gold Closes Private Placement
March 15 2013 - 3:04PM
Access Wire
Vancouver, British Columbia, Canada - March 15, 2013 - Canada
Gold Corporation (TSX-V: CI, Frankfurt: T9N, OTC-BB: CNGZF)
("Canada Gold" or the "Company") announces that it has closed its
non-brokered private placement previously announced in the
Company's news release dated February 27, 2013, and approved by the
TSX Venture Exchange on March 11, 2013.
The Company issued 2,140,000 units (the "Units") at $0.06 per
Unit for gross proceeds of $128,400. Each Unit consisting of one
common share and one share purchase warrant (the "Warrants"), each
full Warrant entitling the holder to purchase one additional common
share of Canada Gold at a price of $0.10, for a period of 24 months
from the date of closing. Certain insiders of the Company have
participated in the financing with Sun Tzu Ventures Inc. (wholly
owned by David McMillan) subscribing for 700,000 Units, and Animus
Ventures Inc. (wholly owned by Chad McMillan) subscribing for
500,000 Units.
The proceeds of the private placement will be used for general
working capital.
The securities issued under the private placement are subject to
a four month hold period from the date of closing. Unless permitted
under securities legislation, the holder of the securities cannot
trade the securities before July 16, 2013.
For more information, please contact the office or visit
www.canadagold.com.
On behalf of the Board,
"Chad McMillan"
Chad McMillan
President & CEO
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.
Cautionary Note Regarding Forward-Looking Statements: Certain
disclosure in this release, including statements regarding the use
of proceeds from the offering, (the "Offering") constitutes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of Canadian
securities legislation. In making the forward-looking statements in
this release, the Company has applied certain factors and
assumptions that the Company believes are reasonable, including
that the Company is able to obtain regulatory approval of the
Offering and that actual results of the Company's exploration
activities will be consistent with those expected by management.
However, the forward-looking statements in this release are subject
to numerous risks, uncertainties and other factors relating to the
Offering and to Canada Gold's operation as a mineral exploration
company that may cause future results to differ materially from
those expressed or implied in such forward-looking statements. Such
uncertainties and risks include, among others, financing risks,
regulatory risk, actual results of the Company's exploration
activities being different than those expected by management, and
delays in obtaining or inability to obtain required government or
other regulatory or shareholder approvals. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Readers are cautioned not to place
undue reliance on forward-looking statements. Canada Gold does not
intend, and expressly disclaims any intention or obligation to,
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by law.
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