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Spanish Mountain Announces Private Placement of Up to $3,000,000
Published : November 27, 2012
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2012) -


Spanish Mountain Gold Ltd. ("Spanish Mountain" or the "Company") (News - Market indicators) is pleased to announce that it has engaged Secutor Capital Management Corporation ("Secutor") to act as lead agent on a brokered private placement (the "Offering") to raise up to $3,000,000 through the issuance of flow-through units (the "FT Units"). Each FT Unit will be sold at a price of $0.33 per FT Unit (the "Issue Price") and will consist of one common share of the Company which will be designated as a flow-through share (the "FT Shares") for the purposes of the Income Tax Act (Canada) (the "Tax Act") and one-half of one common share purchase warrant (a "Warrant"). Each full Warrant entitles its holder to purchase one common share (a "Warrant Share") at a price of $0.45 per Warrant Share for a period of 18 months following the closing of the Offering (the "Closing Date"). The Company has also granted Secutor an over-allotment option, exercisable at the Issue Price at any time prior to the Closing Date, to purchase FT Units for up to an additional 15% of the total size of the Offering.

Secutor will be paid an aggregate cash commission equal to 6% of the gross proceeds received by the Company from purchasers of the FT Units. The Closing Date is scheduled to take place on or about December 12, 2012, or such other date as the Company and Secutor may agree, and is subject to the completion of subscription agreements with the investors and the approval of the TSX Venture Exchange. The Offering is available to accredited investors only, and all securities issued in connection with the Offering will be subject to a four month hold period in Canada.

This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The proceeds from the Offering will be used by the Company to incur exploration expenditures on the Company's properties in British Columbia (the "Properties"). Such exploration expenditures on the Properties will constitute "Canadian exploration expenses" and "flow through mining expenditures" as defined in the Tax Act which can be renounced to purchasers of the FT Units for the 2012 taxation year.

The Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including from the TSX Venture Exchange, as well as the negotiation and execution of certain documentation, including an agency agreement between Secutor and Spanish Mountain.

About Spanish Mountain Gold

Spanish Mountain Gold Ltd. is focused on the responsible development of its flagship Spanish Mountain gold project in southern central British Columbia, Canada. The Company has a strong cash position with no debt and owns 100% of four gold properties located in British Columbia. Additional information about the Company is available on its website:

On Behalf of the Board,


Brian Groves, President and CEO

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause Spanish Mountain's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Management has assumed that the Properties will be Spanish Mountain's major projects going forward. Risks include that Spanish Mountain is unable to satisfy environmental or other regulators, that Spanish Mountain determines that its resources are not commercially viable, or that Spanish Mountain has difficulties due to unavailability of labour or equipment. The Offering is subject to approval by the TSX Venture Exchange.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect Spanish Mountain's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law, Spanish Mountain does not intend to update any forward-looking statements to conform these statements to actual results.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Spanish Mountain Gold Ltd.
Colin Clancy
(604) 601-3651
Proconsul Capital Ltd.
Andreas Curkovic
(416) 577-9927
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Spanish Mountain Gold Ltd.

ISIN : CA8464811097
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Spanish Mountain Gold is an exploration gold company based in Canada.

Spanish Mountain Gold holds various exploration projects in Canada.


Spanish Mountain Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 25.1 millions as of today (US$ 19.9 millions, € 16.1 millions).

Its stock quote reached its highest recent level on July 19, 2007 at CA$ 2.10, and its lowest recent point on January 29, 2016 at CA$ 0.02.

Spanish Mountain Gold has 218 114 373 shares outstanding.

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Financings of Spanish Mountain Gold Ltd.
9/30/2013Announces Closing of Private Placement
9/5/2013Announces Brokered Private Placement of up to $3,000,000
12/14/2012Announces Closing of Flow-Through Private Placement
11/27/2012Announces Private Placement of Up to $3,000,000
6/30/2011Announces $15,000,000 Financing
3/9/2011Announces Closing of Financing and Change in Management Team
2/18/2011Announces $5,000,000 Flow-Through Private Placement
Option Grants of Spanish Mountain Gold Ltd.
8/26/2010Announces Grant of 600,000 Options
Nominations of Spanish Mountain Gold Ltd.
1/23/2013Announces Appointment of Rothschild
5/6/2010Announces Appointment of Chief Operating Officer
Project news of Spanish Mountain Gold Ltd.
3/7/2013Provides Project Update
11/15/2012Spanish Mountain Announces Positive Preliminary Economic Ass...
9/12/2012(Spanish Mountain)and Lhtako Dene Nation Announce Signing of Cooperation Agree...
8/27/2012Provides Project Update
7/24/2012Spanish Mountain Gold Announces Updated Resource Estimate: I...
7/24/2012Announces Updated Resource Estimate: Increased Measured and ...
5/1/2012Reports Additional Results of Current In-fill Drilling Progr...
4/3/2012Reports Results of In-fill Drilling Program
3/27/2012(Spanish Mountain)and Soda Creek Indian Band Announce Signing of Protocol Agre...
2/22/2012Provides Feasibility Study Timeline & Project Update
12/7/2011Spanish Mountain Gold Announces Discovery of New Gold Zone
10/12/2011Reports Completion of In-fill Drilling Program in Main Zone
8/4/2011Provides Update on Environmental Assessment, Permit Progress...
6/2/2011(Spanish Mountain)Reports Results from Current Drill Program: 204.3 m grading ...
3/20/2011(Spanish Mountain)and Williams Lake Indian Band Announce Signing of Protocol A...
11/23/2010(Spanish Mountain)Announces Results of the Preliminary Economic Assessment (PE...
12/7/2010(Spanish Mountain)Provides Clarification on Preliminary Economic Assessment (P...
1/12/2010(Spanish Creek)Reports 19.30 g/t Gold Over 1.5 Metres at Thunder Ridge (Spa...
10/8/2009(Spanish Mountain)Reports Results from Drilling at Spanish Mountain
9/1/2009(Spanish Mountain)Intersects additional High-Grade Gold at Thunder Ridge
7/27/2009(Spanish Mountain)Begins Drilling at Spanish Mountain
3/18/2009(Spanish Mountain)Reports a 47% Increase in Estimated Gold Resource for Spanis...
1/14/2009Drilling Intersects High-Grade Gold at Spanish Creek
12/2/2008Identifies New High-Grade Gold Intersections in Assay Result...
8/19/2008(Spanish Mountain)Announces Further Drilling Results for Spanish Mountain
5/21/2008(Spanish Mountain)Drilling Intersects 47.5 Metres of 2.04 g/t Gold 275 Metres ...
4/18/2008(Spanish Mountain)Drilling Intersects High-grade Gold Mineralization in Step-o...
4/3/2008(Spanish Mountain) Reports Initial Resource Estimate for Spanish Mountain
3/26/2008(Spanish Mountain)drilling continues to expand Main Zone and increases propert...
2/27/2008(Spanish Mountain)Spanish Mountain Drilling Results Continue to Confirm Contin...
1/21/2008(Spanish Mountain)Spanish Mountain Main Zone Continues to Expand-Drilling Inte...
1/10/2008(Spanish Mountain Extension)Excellent Gold Recoveries Confirmed at Spanish Mountain
4/20/2006(Spanish Creek)completes $13,46 million financing
Corporate news of Spanish Mountain Gold Ltd.
10/23/2015Spanish Mountain Gold Announces Closing of Private Placement
10/5/2015Spanish Mountain Announces Non-brokered Private Placement (A...
10/5/2015Spanish Mountain Announces Non-brokered Private Placement
5/25/2015Spanish Mountain Gold Announces Retirement Of Director
4/24/2015Spanish Mountain Gold Responds to Recent Trading Activity
10/24/2014Spanish Mountain Gold Announces Adoption of Advance Notice P...
9/23/2014Spanish Mountain Gold Reports 2014 Drilling Results: High Gr...
7/3/2014Spanish Mountain Gold Commences Drilling Program
5/8/2014Spanish Mountain Files NI 43-101 Technical Report for Spanis...
4/10/2014Spanish Mountain Gold Announces Updated Resource Estimate an...
2/4/2014Reports Final 2013 Drilling Results
1/28/2014Reports Additional Drilling Results
11/28/2013Reports Additional Results for Reverse Circulation Drilling ...
10/29/2013Spanish Mountain Gold Reports Interim Results for Reverse Ci...
10/29/2013Reports Interim Results for Reverse Circulation Drilling Pro...
8/22/2013Announces Start of Drilling Progamme
12/14/2012Mid-Day Breaking News From Spanish Mountain, U3O8 Corp, and ...
11/15/2012Low-Cation: Spanish Mountain Gold Developing Low-Risk, Low-C...
11/15/2012(Spanish Mountain)Announces Positive Preliminary Economic Assessment On Spanis...
10/1/2012$0.23 Warrants Fully Exercised
6/19/2012Reports Final Assay Results from In-fill Drilling Program- 1...
5/29/2012Reports Interim Results of In-fill Drilling Program- 64m Gra...
5/22/2012(Spanish Mountain)Exclusive interviews with Spanish Mountain Gold's Chairman I...
5/15/2012Spanish Mountain Gold Reports Initial Metallurgical Results ...
3/7/2012Reports Final Drilling Results From 2011 Program
8/31/2011Announces Commencement of Pre-Feasibility Study
7/28/2011Reports Interim Drilling Results; Drilling Now Underway on C...
7/13/2011Announces Closing of $20 Million Financing
3/14/2011Announces Work Programs for 2011: Drilling In Excess of 17,0...
3/9/2011Spanish Mountain Announces Closing of Financing and Change i...
2/25/2010Announces Closing of Financing
1/14/2010Receives Approval of Name Change to Spanish Mountain Gold Lt...
1/4/2010Announces Change of Company Name to Spanish Mountain Gold a...
6/24/2009Begins 2009 Field Programs
5/4/2009Provides a Corporate Update
12/3/2008Introduces Stock Research Portal
8/22/2008Closes Over-Allotment Option
8/1/2008Closes Prospectus Financing
7/16/2008Announces Pricing of Prospectus Offering
7/9/2008Closes Wildrose Acquisition and Announces New Directors
6/19/2008and Wildrose Plan of Arrangement Receives Shareholder and Co...
6/16/2008s Progress on Spanish Mountain Project
6/12/2008Files Amended and Restated Financial Statements and MD&A for...
6/12/2008Files Preliminary Short Form Prospectus For Proposed Offerin...
3/14/2008Paul van Eeden: Investing in 2008 Conference
3/7/2008and Wildrose Sign Arrangement Agreement
2/4/2008Three Drills at Spanish Mountain
1/15/2008Step Out Drilling Significantly Expands Spanish Mountain Gol...
12/14/2007Announces 2.4 Million Unit Financing
12/11/2007Brian Groves to Lead Skygold Team as President and CEO
2/21/2007Drilling Confirms Geophysical Targets: Expanding Area of Int...
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