News Release
2007-03
Castle Gold Announces Early Exercise
Warrant Incentive Amendment
TORONTO, ON, September 17, 2007 – Castle Gold Corporation (TSX-V:
CSG) announces that it has received TSX Venture Exchange acceptance to
re-price certain warrants (the “Warrants”) to encourage the early exercise of up
to an aggregate of 2,409,000 warrants which entitle the holders to purchase up
to 2,409,000 common shares (each a “Share”) in the capital of the Company
currently exercisable at a purchase price of $0.72 per Share. For a limited time only, until 4:00 p.m.
(EST) on October 19, 2007 (the “Amended Exercise Date”) holders of these
Warrants may redeem them at a reduced exercise price of $0.58 per
Share.
The Warrants were originally issued pursuant to a private placement
of Aurogin Resources Ltd. (which amalgamated with Morgain Minerals Inc.
effective August 28, 2007) that closed on April 20, 2006. The Warrants have a
term of two years and expire on April 20, 2008. In the event that the Warrants are not
exercised on or before the Amended Exercise Date, the Warrants will revert to
their original terms which entitle holders to exercise the Warrants at a purchase price of $0.72 per Share at any time until 4:00 p.m. EST on April 20,
2008.
In the event that the Warrants are fully exercised on or before
October 19, 2007, the Company expects to generate proceeds of $1,397,220. Castle Gold expects to use proceeds from
early redemptions to advance initiatives at its 100% owned El Castillo gold mine
in Mexico and for general working capital purposes.
Castle Gold is a growth oriented gold producer focused on expanding
gold production within the Americas.
It currently jointly operates the 50% owned El Sastre gold mine in
Guatemala and is nearing completion of its 100% owned El Castillo gold mine in
Mexico. In addition, Castle Gold is
advancing exploration and development work at its 100% owned La Fortuna gold
project in Mexico and at its El Sastre, Bridge and Lupita projects in
Guatemala.
For further information about
Castle Gold contact:
Court
Babcock, Investor Relations (604) 643-1727
Coal
Harbour Communications Inc. (604)
662-4505 or Toll-free 1-877-642-6200
Current
issued and outstanding share capital: 70,195,647 |
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy of this news release.
Dale Paruk
Coal Harbor Communications Inc.
Suite 701, 555 Jervis Street
Vancouver BC V6E 4N1
Tel: 1+ (604) 662-4505
 
|
Castle Gold Corporation
|
|
PRODUCER |
CODE : CSG.V |
ISIN : CA22122T1030 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Castle Gold Corp. is a gold producing company based in Canada. Castle Gold Corp. produces gold, silver in Guatemala and in Mexico. Its main assets in production are EL SASTRE GOLD MINE, EL SASTRE, EL SASTRE - EL ARENAL, EL SASTRE BRIDGE ZONE and EL SASTRE - LUPITA ZONE in Guatemala and EL CASTILLO MINE in Mexico and its main exploration property is LA FORTUNA DURANGO in Mexico. Castle Gold Corp. is listed in Canada and in United States of America. Its market capitalisation is CA$ 776 300 as of today (US$ 596 819, € 545 553). Its stock quote reached its highest recent level on January 18, 2008 at CA$ 0.75, and its lowest recent point on July 30, 2015 at CA$ 0.01. Castle Gold Corp. has 77 630 000 shares outstanding. |