Taku Gold
Announces Closing of $3,450,000 Financing
VANCOUVER, BRITISH
COLUMBIA--(July 20, 2010) - Taku Gold Corp. (TSX VENTURE:TAK)
(the "Company") is pleased to announce the closing of its
brokered private placement (the "Offering") for gross proceeds
totalling $3,450,000, completed through Union Securities Ltd. (the
"Agent"). These funds were raised through the issue by the
Company of: (i) 13,240,000 units ("Units") at a price of $0.15
per Unit (for gross proceeds of $1,986,000), each Unit consisting of one
common share and one common share purchase warrant ("Warrant")
entitling the holder to purchase one additional common share (a
"Warrant Share") of the Company at a price of $0.25 until July
16, 2012; and (ii) 9,760,000 flow-through units ("FT Units") at a
price of $0.15 per FT Unit (for additional gross proceeds of $1,464,000),
each FT Unit consisting of one flow-through common share and one-half of
one Warrant, of which one whole Warrant entitles the holder to purchase one
Warrant Share at a price of $0.25 until July 16, 2012.
A commission of
$276,000 was paid by the Company to the Agent as consideration for
arranging the Offering. The Company also issued agent's options
("Agent's Option"), which entitles the Agent to purchase up to
2,300,000 units ("Agent's Units") of the Company at a price of
$0.15 per Agent's Unit until July 16, 2012. Each
Agent's Unit consists of one common share and one common share purchase
warrant (the "Agent's Warrant") entitling the Agent to purchase
one additional common share of the Company at a price of $0.25 until July
16, 2012.
The securities issued pursuant to the Offering, and
any common shares to be issued upon the exercise of the Warrants, Agent's
Option and Agent's Warrants, are subject to a hold period expiring November
17, 2010. Completion of the Offering is subject to receipt by the Company
of all necessary regulatory approvals.
On Behalf of the Board,
Taku Gold Corp.
Zachery Dingsdale, CEO and President
Statements in this release that are forward-looking
are subject to various risks and uncertainties as identified above and in
the Company's periodic filings with the British
Columbia Securities Commission and the U.S.
Securities Exchange Commission. Such information contained herein
represents management's best judgment as of the date hereof based on
information currently available. The Company does not intend to update this
information and disclaims any legal liability to the contrary.
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 news release.
CONTACT INFORMATION:
Taku
Gold Corp.
Zachery
Dingsdale
CEO
and President
(604)
642-0115 or Toll Free: 1-866-345-0115
Fax:
(604) 642-0116
tangentnews@telus.net
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