REBgold Closes First Tranche of Private Placement
November 22 2011 - 3:05PM
Marketwired
REBgold Corporation ("REBgold" or the "Company") (TSX VENTURE:RBG)
is pleased to announce that it has closed the first tranche of its
non-brokered private placement announced on November 8, 2011, for
total gross proceeds of $1,000,000.
Effective November 21, 2011, REBgold issued 20 million units at
$0.05 per unit. Each unit consists of one common share and one
common share purchase warrant. Each warrant entitles the holder to
purchase one additional common share at $0.10 until November 10,
2016. All securities issued pursuant to the first tranche of the
private placement, including the common shares issuable upon
exercise of the warrants, are subject to a four- month hold period
that expires March 22, 2012.
Proceeds of the Private Placement will be used to start another
phase of drilling at the Osikonmaki Property in Finland and for
general business development and working capital purposes.
REBgold has received interest for additional funding from
existing and new investors and will look to close on further
funding over the next few weeks.
REBgold PROFILE
REBgold is in the process of acquiring and developing economic
interests in gold assets, in particular, where it can utilize its
competitive advantages, to create shareholder value.
The Company's key competitive advantages include an experienced
board and management team, strategic investor backing and
proprietary technology. The Company's bacterial oxidation and
bioleaching technologies are commercially proven for the liberation
of precious metals from difficult-to-treat sulphide ores and
concentrates, with environmental and economic benefits. To date,
the Company's BACOX technology has been used at three gold mines
located in Western Australia, Tasmania and China.
Shares outstanding 182,258,486
Neither the 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.
Contacts: REBgold Corporation EJ Spencer Corporate and Investor
Relations Administrator 416-646-1850 X 242www.reb-gold.com
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