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Threegold Ressources Inc.

Published : July 14th, 2008

Completes $162,000 private placement

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THREEGOLD RESOURCES INC.
PRESS RELEASE 2008-07

 

Threegold Resources completes $162,000 private placement

 

Val-d'Or, Quebec, Canada - July 11, 2008 - Threegold Resources Inc. (THG: TSX Venture Exchange) is pleased to announce that it has closed its previously-announced private placement by issuing an aggregate of 648,000 units at a price of $0.25 per unit to investors resident in the provinces of Quebec and Ontario, for gross proceeds of $162,000.
 
Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Threegold at a price of $0.35 per share for a period of twelve months, and at a price of $0.45 for a period of twelve months thereafter.
 
Under applicable securities legislation and the policies of the TSX Venture Exchange, the common shares and warrants issued pursuant to the private placement are subject to a hold period expiring on November 10, 2008.
 
All of the proceeds from the private placement will be added to Threegold's working capital and will be used for general corporate purposes as well as for exploration work on the company's existing mining exploration properties located in the Province of Quebec.
 
As a result of the private placement, there are 30,336,511 common shares of Threegold issued and outstanding.
 
Board of Directors
Threegold would also like to announce that following the company's annual meeting, which was held on June 18, 2008, the shareholders elected Messrs. Daniel Duval (Chairman), Antoine Fournier, John Ryder, Octavio Soares and Richard Tanguay. Mr. Soares joins the Board of Directors of the company, replacing Mr. Kosta Kostic who continues as Secretary. Messrs. Ryder, Soares and Tanguay also serve on the company's audit and compensation committees.
 
Option Grant
Threegold also wishes to announce that on July 10, 2008, its Board of Directors granted stock options in respect of an aggregate of 750,000 common shares to five of Threegold's directors and senior officers, at an exercise price of $0.25 per share, representing a premium to the closing price of Threegold's shares on the TSX Venture Exchange on July 10, 2008 ($0.23). At the same time, the Board of Directors also granted stock options in respect of an aggregate of 245,000 common shares to nine of Threegold's employees and consultants, also at an exercise price of $0.25 per share. All of the stock options were granted pursuant to Threegold's incentive stock option plan.
 
Threegold is a new and innovative mineral exploration company focused on the exploration for gold and base metals in the Province of Quebec.
 
Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG".
 

For further information, please contact:

Mr. Antoine Fournier, P. Geo,
President and CEO

Threegold Resources Inc.
Tel.: (819) 825-3883
Fax: (819) 825-7545
E-mail: info@threegold.ca

Mr. Daniel Duval
Chairman of the Board and
Chief Financial Officer

Threegold Resources Inc.
Tel.: (819) 825-3883
Fax: (819) 825-7545
E-mail: info@threegold.ca

Mr. Sylvain Laberge
Investor Relations

S.D.N.L. Financial Communications
Tel: (514) 380-5610

E-mail: slaberge@sdnlfinancial.com

You can also visit our website at: www.threegold.ca

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy 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 United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution to United States newswire services or for dissemination in the United States.

- 30 -

 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Threegold Ressources Inc.

EXPLORATION STAGE
CODE : THG.V
ISIN : CA8857991068
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Threegold is a gold exploration company based in Canada.

Threegold holds various exploration projects in Canada.

Its main exploration properties are MERCIER, ADANAC, LEMIEUX DOME, FROTET-ROBERT and SOUTH BAY VAL D'OR in Canada.

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In the News and Medias of Threegold Ressources Inc.
1/18/2007Threegold Receives Preliminary Report and Signs an Options t...
Financings of Threegold Ressources Inc.
5/11/2011Announces Closing of Private Placement
11/16/2009$604,800 Private Placement
7/15/2009completes the first closing of a $600,000 private placement
7/9/2009private placement and results from the Annual General Meetin...
12/4/2008ENGAGES DESJARDINS SECURITIES FOR PRIVATE PLACEMENT OF UP TO...
7/14/2008Completes $162,000 private placement
7/7/2008ORGANIZES $150,000 PRIVATE PLACEMENT
Nominations of Threegold Ressources Inc.
6/27/2013Announces Results of AGM and Addition of Two New Members to ...
6/27/2013Announces Results of AGM and Addition of Two New Members to ...
5/29/2013Adopts By-Law 2013-1 Incorporating an Advance Notice Provisi...
1/13/2009appointment of Mr. Octavio Soares as Chief Financial Officer
Project news of Threegold Ressources Inc.
6/28/2011(Adanac)Osisko Mining Corporation Begins Exploration on Threegold's ...
1/24/2011(Adanac) Exploration Resumes on Adanac Project, Quebec, and South Ba...
4/30/2010(Mercier)Preliminary results from second drilling program
2/4/2010(Mercier)Second phase of diamond drilling
6/5/2008(Adanac)$2.83M EXPLORATION BUDGET
Corporate news of Threegold Ressources Inc.
9/20/2013Resources Inc.: Corporate Update
1/24/2013CORRECTION FROM SOURCE: Threegold Would Like to Extend an In...
1/9/2013Intends to Acquire 19.9% Interest in Golden Eagle Peru
6/1/2011Osisko Mining Corporation Vice President of Legal Affairs Jo...
5/26/2011(Adanac)Osisko Mining Corporation to Option the Adanac Gold Project ...
5/19/2011Osisko Mining Corporation Acquires 9.2 Percent Stake in Thre...
4/25/2011Resources Inc.: $1,050,000 Non-Brokered Private Placement
12/3/2009Gold & Commodities Conference
1/22/2009Information
1/5/2009THREEGOLD
11/13/2008Information
9/10/2008FINAL RESULTS FOR 2007 DRILLING PROGRAM AND EXPLORATION UPDA...
3/29/2007Encouraging Results From First Exploration Program On The Le...
12/20/2006Threegold Resources Inc. Files Final Short Form Prospectus f...
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