Threegold Resources Organizes $150,000 Private Placement (2008-07-03)
VAL-D'OR, QUEBEC--(Marketwire - July 3, 2008) - Threegold Resources Inc. (TSX VENTURE:THG) announces that it proposes to issue 600,000 common shares at a price of $0.25 per share to "accredited investors" resident in the province of Quebec, for gross proceeds to Threegold of $150,000. 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 $0.35 per share for twelve months after the date of issuance of the warrants, and at a price of $0.45 per share for a period of twelve months thereafter.
The closing of the private placement is expected to occur on or about July 7, 2008. It is expected that approximately $60,000 (or 40%) of the private placement will be taken up by current insiders of Threegold.
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. The securities issued in connection with the private placement will be subject to a four-month hold period under the policies of the TSX Venture Exchange and applicable securities legislation.
Threegold is a new and innovative mineral exploration company focused on the exploration for gold and base metals in the Province of Quebec.
Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG".
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution to United States newswire services or for dissemination in the United States.
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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