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Cangold Announces $300,000 Financing
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CANGOLD LIMITED (TSX-V: CLD, the "Company") announces a non-brokered
private placement financing of up to Cdn$300,000 consisting of up to 6
million units at Cdn$0.05 per unit. Each unit comprises one common
share and one-half non-transferable share purchase warrant.
Each full warrant entitles the holder to acquire, upon exercise, one
additional common share at Cdn$0.10 for a period of one year, provided,
however, that should the closing price of the Company's shares on the
TSX Venture Exchange be at least Cdn$0.20 per share for 20 consecutive
trading days (at any time at or following the expiry of the four month
resale restriction period), the Company may, by notice to the holder
(supplemented by a new release of general dissemination) reduce the
remaining exercise period applicable to the warrants to not less than
30 days from the date of such notice.
Finder's fees may be paid on portions of the private placement.
The private placement shares, any shares acquired upon exercise of the
warrants and any securities issued in payment of finder's fees will be
subject to a four-month hold period.
The financing proceeds will be used for further property acquisition
investigations, and for general working capital.
For further information please visit the Company's website at
www.cangold.ca or contact Don Mosher, at telephone 604 685 6465, fax
604 899 4303 or e-mail info@cangold.ca
ON BEHALF OF THE BOARD
Signed: "Kaare G. Foy"
Kaare G. Foy: Executive Chairman
CANGOLD LIMITED
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Copyright (c) 2009 CANGOLD LIMITED (CLD) All rights reserved. For
more information visit our website at http://www.cangold.ca/ or send
mailto:info@cangold.ca
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Cangold Limited
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PRODUCER |
CODE : CLD.V |
ISIN : CA1375881093 |
CUSIP : 137588109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cangold is a gold exploration company based in Canada. Cangold holds various exploration projects in Canada and in Mexico. Its main asset in production is CASUMMIT-ARGOSY in Canada and its main exploration properties are ARGOSY and CASUMMIT LAKE in Canada and LOS VENADOS and PLOMO in Mexico. Cangold is listed in Canada. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.1 millions, € 1.0 millions). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on December 17, 2010 at CA$ 0.75. Cangold has 46 740 000 shares outstanding. |