Threegold Resources Announces Private Placement and Results From the Annual General Meeting (2009-07-08)
VAL-D'OR, QUEBEC, CANADA--(Marketwire - July 8, 2009) - Threegold Resources Inc. (TSX VENTURE:THG) ("Threegold" or the "Company") announces a non-brokered private placement of a maximum of 6,000,000 common shares at a price of $0.10 per share for gross proceeds of up to $600,000 (the "Offering"). Each common share will be accompanied by one common share purchase warrant entitling the holder thereof to acquire one additional common share of Threegold at a price of $0.14 per share for a period of twelve months following the closing of the Offering, and at a price of $0.18 per share for the following twelve month period.
The closing of the private placement is expected to occur on or about July 10, 2009. All of the proceeds from the private placement will be added to Threegold's working capital and will be used for general corporate purposes as well as for exploration work on the Company's existing mining exploration properties located in the Province of Quebec.
The private placement is subject to regulatory approval. In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering.
Board composition following the Annual General Meeting
Threegold would also like to announce that following the Company's annual meeting, which was held on June 30, 2009, the shareholders elected Messrs. Richard Tanguay (Chairman), Daniel Duval, Antoine Fournier, John Ryder and Octavio Soares as directors of the Company. Also, the board of directors appointed Antoine Fournier as President, CEO and secretary, Octavio Soares as Chief Financial Officer and Daniel Duval as Vice-President, Corporate Development for the current year.
Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG". Investors are invited to visit the company's website at threegold.ca.
For further information, please contact:
Antoine Fournier, P.Geo.
Threegold Resources Inc
Tel.: (819) 825-3883
Fax: (819) 825-7545
Octavio Soares, FCA
Chief Financial Officer
Threegold Resources Inc
Tel.: (418) 999-8811
Fax: (418) 652-8149
S.D.N.L. Financial Communications
Tel: (514) 380-5610
You can also visit our website: threegold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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