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LEVON CLOSES $800,000
NON BROKERED PRIVATE PLACEMENT
Levon
Resources Ltd. (the �Company�) has completed a non-brokered private
placement of 5,000,000 units at a price of $0.16 per unit for gross
proceeds of $800,000.
Each unit consists of one common share and one half (1/2)
non-transferrable share purchase warrant. Two half warrants will
entitle the investor to purchase one additional common share with a
term of one (1) year at an exercise price of $0.35 expiring on July 29,
2010.
All securities issued under this private placement are subject to a
four month and a day hold period, expiring on November 30, 2009.
The Company has paid the following finders, a finder�s fee equal to 7%
of the funds raised, plus Broker�s Warrant to acquire common shares of
the Company equal to 7% of the number of Units sold at an exercise
price of $0.35 per share for a period of one year expiring on July 29,
2010:
� P.I. Financial Corp. - $2,240 and 14,000 Broker�s
Warrants
� Canaccord Capital
Corporation - $4,256 and 26,600 Broker�s Warrants
� Bolder Investment Partners Ltd. - $35,840 and
224,000 Broker�s Warrants
In the event that the Company's common shares trade at a closing price
on the TSX Venture Exchange of greater than $0.50 per share for a
period of 10 consecutive trading days at any time after four months from
the closing date, the Company may accelerate the expiry date of the
warrants by giving notice to the holders thereof and in such case the
warrants will have to be exercised within thirty one (30) days after
the date of notice, otherwise the Warrants will expire.
The funds will be used to advance the Cordero Sanson
project in Chihuahua State, Mexico and complete the earn-in of the 51%
interest in the project.
Levon is a junior gold exploration company
with key land positions at Congress, BRX, and Wayside in the productive
Bralorne Gold camp of British Columbia,
Canada, the Norma Sass and Ruf claims near
the Pipeline gold deposit being mined and explored by Barrick Gold Corporation in the heart of the Cortez
Gold Trend in Lander County, Nevada, USA, and the Cordero Silver, Gold,
Lead, Zinc project near Hidalgo Del Parral,
Chihuahua, Mexico.
For further information contact Levon
Resources Ltd. at (604) 682-3701, or log onto our website
www.levon.com.
ON BEHALF OF THE BOARD
�Ron Tremblay�
______________________________
Ron Tremblay
President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy of this release.
This email may contain certain forward-looking statements. Investors
are cautioned that certain statements in this release are
"forward-looking statements" and involve both known and
unknown risks, uncertainties and other factors. Such uncertainties
include, among others, certain risks associated with the operation of
the company described above. The Company's actual results could differ
materially from expected results.
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