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Latest News
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November 19, 2009, Vancouver, Canada
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Toll Free 1.800.667.1870
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Fire River Gold Announces $10 Million Brokered Private Placement
Fire River Gold Corp. (TSX Venture: FAU) (the "Company") has entered into an agreement with Loewen, Ondaatje, McCutcheon Limited (the "Agent") to raise on a best efforts private placement basis up to $10 million through the issuance of units of the Company (the "Unit") at a price of $0.50 per Unit. Each Unit of the Company shall consist of one common share and one half common share purchase warrant (a "Warrant"), each whole Warrant exercisable to acquire one additional common share at a price of $0.75 per common share, for a period of 18 months after the closing date of the private placement (the "Closing"). Subject to regulatory approval, the Company has granted the Agent the right to over-allot the private placement by up to 20%.
The Company will pay the Agent a cash commission equal to 6% of the gross proceeds from the sale of the Units. In addition, the agents will receive broker warrants equal to 7% of the number of Units sold under the private placement, with each broker warrant being exercisable at any time for one Unit of the Company at the issue price of the private placement for a period of 18 months following the closing. Closing of the private placement is scheduled to take place on or about December 7, 2009 and is subject to the approval of the TSX Venture Exchange.
All securities issued in connection with the private placement will be subject to a regulatory hold period of four months plus one day.
The funds from the private placement will be used for the exploration and development of the Nixon Fork Gold Mine in Alaska, and for general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Please click HERE to view entire NEWS RELEASE
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Latest Article: Fire River takes a run at Nixon Fork
An article & video feature by, Susan Kirwin, The Northern Miner
McGrath, Alaska --- The camp at the Nixon Fork gold mine sleeps 85 but the beds have been empty for two years now. Our group of about 15 has an endless selection of identical little rooms to choose from, each outfitted with a nicely made twin bed, a nightstand, a storage shelf and window. Not bad for "camping." |
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We are 240 km north of Anchorage, somewhere in the middle of Alaska, and our host, Fire River Gold (fau-c), is Nixon Fork's newest owner. If all goes according to plan, miners will once again fill the rooms in the next year or two.
Geologist and Nixon Fork project manager Greg Myers, who's been spending much of his time at the camp with a team of three others, wastes no time in getting to the safety lesson, including what to do if we have a run-in with the camp bear (stay still, don't run, make noise, wave your arms). He then makes us laugh uncomfortably with stories about people who didn't listen.
Please click HERE to view entire article:
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About Fire River Gold Corp.
Fire River Gold Corp. completed its IPO at the end of May 2009 and is the newest member of the International Metals Group ("IMG"), (www.internationalmetalsgroup.com) giving it access to a well established team with over 100 years of experience working in Alaska. The primary focus of FAU is the exploration and development of gold projects in Alaska. The recently acquired Nixon Fork Gold Mine in Alaska has the potential to be a near term gold producer. Management's objective is to make FAU a North American gold producer in the next 18 months.
On August 13, 2009, FAU exercised its option to purchase a 100% interest in Mystery Creek Resources, Inc. (MCR), a wholly owned Alaskan subsidiary of Pacific North West Capital Corp. ("PFN") (PFN:TSX), (www.pfncapital.com). Pacific North West Capital is the largest shareholder on record of Fire River Gold Corp.
For further information on Fire River Gold Corp., please visit www.firerivergold.com
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Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
Neither 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 accuracy of this release. We seek safe harbour. |
This email should not be construed as an offer to buy or sell securities of Fire River Gold Corp.
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Fire River Gold
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DEVELOPMENT STAGE |
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CODE : FAU.V |
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ISIN : CA31811Q1063 |
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Asset profileContact Cpy |
Fire River is a gold exploration company based in Canada. Fire River develops gold and silver in USA. Its main asset in development is GOLDEN ZONE PROPERTY in USA and its main exploration properties are NIXON FORK, GOLDEN ZONE, KANSAS CREEK and DRAKEN in USA. Fire River is listed in Canada. Its market capitalisation is CA$ 3.2 millions as of today (US$ 2.8 millions, € 2.2 millions). Its stock quote reached its highest recent level on November 27, 2009 at CA$ 0.75, and its lowest recent point on October 09, 2014 at CA$ 0.01. Fire River has 316 160 000 shares outstanding. |