International Gold Corp. Enters Into Loan Short Term Agreement
June 28 2011 - 7:30AM
Marketwired
International Gold Corp. (OTCQB: ITGC) ("IGC" or the "Company") is
pleased to announce that it entered into a Loan Agreement (the
"Loan Agreement") with Roger Brian Ashton effective June 17, 2011,
pursuant to which the Company will borrow US$75,000 from Mr. Ashton
at an interest rate of 10% per annum calculated and compounded
yearly. Pursuant to the terms of the Loan Agreement, the Company is
obligated to pay the outstanding principal balance of the loan and
any outstanding interest on the date that is 45 calendar days from
June 17, 2011, and the Company has the privilege of prepaying the
principal amount in whole or in part at any time, without notice,
bonus or penalty. The Company intends to use the funds for the
Company's ongoing business operations.
In connection with the Loan Agreement, the Company issued an
aggregate of 250,000 common shares of the capital of the Company to
Mr. Ashton as additional incentive to enter into the Loan
Agreement. The shares were issued pursuant to Regulation S of the
United States Securities Act of 1933 and National Instrument 45-106
of the Canadian Securities Administrators.
The securities referred to in this news release 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 within the
United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This news release does not constitute an
offer for sale of securities for sale, nor a solicitation for
offers to buy any securities. Any public offering of securities in
the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as
financial statements.
Disclaimer
This news release may contain forward-looking statements or
information within the meaning of the United States Primary
Securities Litigation Reform Act of 1995 and within the meaning of
Canadian provincial securities laws applicable to the Company.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. Forward-looking statements or information are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the
forward-looking statements or information, including, without
limitation, risks and uncertainties relating to obtaining financing
to meet the Company's exploration programs and operating costs
during its exploratory stage, the interpretation of exploration
results and the estimation of mineral resources and reserves, the
geology, grade and continuity of mineral deposits, the possibility
that future exploration, development or mining results will not be
consistent with the Company's expectations, accidents, equipment
breakdowns, title matters, or other unanticipated difficulties with
or interruptions in production and operations, the potential for
delays in exploration or development activities or the completion
of feasibility studies, the inherent uncertainty of production and
cost estimates and the potential for unexpected costs and expenses,
commodity price fluctuations, currency fluctuations, regulatory
restrictions, including the inability to obtain mining permits and
environmental regulatory restrictions and liability, the
speculative nature of mineral exploration, dilution, competition,
loss of key employees, and other risks and uncertainties, including
those described under "Risk Factors" in the Company's Annual Report
on Form 10-K filed on April 15, 2011, which is on file with the
Securities and Exchange Commission, as well as the Company's
periodic filings available at www.sec.gov and with Canadian
Securities Administrators at www.sedar.com. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements or information. The Company does not undertake any
obligation to release publicly revisions to any "forward-looking
statement," to reflect events or circumstances after the date of
this news release, or to reflect the occurrence of unanticipated
events, except as is required under applicable securities laws.
Contacts: International Gold Corp. Bob M. Baker 604.925.0220
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