CORRECTION FROM SOURCE: Threegold Closes a $250,000 Flow-Through Private Placement (2010-10-20)
VAL-D'OR, QUEBEC, CANADA, Oct. 20, 2010 (Marketwire) -- A correction from source is being issued with respect to the release sent out today at 5:43 PMET. The corrected version follows.
Threegold Resources Inc. (TSX VENTURE:THG) is pleased to announce that it has completed a private placement for gross proceeds of $249,973.50.
Closing of Private Placement
According to the terms of the placement, the company successfully raised $249,973.50 by issuing 1,785,525 flow-through common shares at a price of $0.14 per common share. Management and insiders accounted for 163,525 flow-through common shares or $22,893.50 of the total placement. All shares are subject to a four (4) month hold period from the closing date.
In connection with the private placement the company paid a finder's fee of $15,999.20 and issued 114,280 non-transferable warrants entitling the holder to acquire same number of common shares of the company at a price of $0.20 per common share for a period of twelve (12) months following the closing.
Threegold Resources is a dynamic and active Quebec-based junior explorer with a diversified property portfolio. Threegold is pursuing exploration on three main projects in Quebec: Lemieux Dome in the Gaspe Peninsula for copper, zinc, lead, silver and gold; Mercier in the Abitibi region where the company recently made a rare earth element discovery containing base and rare metals (see press release of February 2, 2010); and Adanac, a gold property located a few kilometres from downtown Rouyn-Noranda.
You can also visit our website: threegold.ca.
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.
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