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Glass Earth Gold Closes First Tranche of $3 Million Placement
Published : December 12, 2012
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WELLINGTON, NEW ZEALAND--(Marketwire - Dec. 12, 2012) - Glass Earth Gold Limited (News - Market indicators)(NZAX:GEL) ("Glass Earth") today announces that it has closed the first tranche of its previously announced non-brokered Private Placement. A total of 18,501,000 Units have been sold at a price of $0.16 per unit for gross proceeds of C$2,960,160.

Each Unit consists of one common share and one common share purchase Warrant. Each whole Warrant entitles the holder to purchase one common share at a price of C$0.25 per share, exercisable for a period of 24 months from the date of issuance.

All the above securities issued pursuant to the private placement are subject to a hold period and may not be traded until April 12, 2013.

The Company anticipates closing a further tranche shortly as Unit Subscription agreements for a further C$695,920 (4,349,500 Units) have been received and are being processed.

The proceeds of this private placement are to advance the delineation and development of the Neavesville and WKP projects in the Hauraki region of New Zealand.

About Glass Earth Gold Limited

Glass Earth Gold is one of New Zealand's most active gold exploration companies with landholdings proximal to world-class gold deposits and cash flow from its wholly owned placer projects. With an experienced geological team the Company is exploring promising gold prospects across both the North and South Islands.

In the North Island, exploration efforts are focused on large epithermal gold systems in the Hauraki Region, akin to the Martha Hill mine, (Newmont Mining).

In the Hauraki Region, Glass Earth Gold has identified and developed significant ground positions around the active Martha Hill gold mine operations at Waihi. The Newmont-Glass Earth Gold Waihi West JV (Newmont earning in) and Hauraki JV (65/35), including drilling at the WKP discovery, are being actively explored and managed by Newmont in collaboration with Glass Earth Gold. Glass Earth Gold also intends to progress activities at the newly announced Neavesville prospect.

Glass Earth Gold has also defined several significant epithermal gold targets to independently explore in this region, including the Muirs Reef Gold project.

In the South Island, exploration efforts are focused on the Otago Region, home to OceanaGold's Macraes Goldfield, for identification of mesothermal "Macraes-style" gold targets and revenue generation through placer (alluvial) gold production.

For more information on Glass Earth Gold, please visit www.glassearthgold.com.

To receive Company news via email, contact erica@chfir.com and mention "Glass Earth news" in the subject line.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

Glass Earth Gold Limited
Simon Henderson
President and Chief Executive Officer
+64 4 903 4980
info@glassearthgold.com
www.glassearthgold.com
or
CHF Investor Relations
Jeanny So
Director of Operations
+1 416 868 1079 x 225
jeanny@chfir.com
Companies Mentionned : Newmont | Total |
Data and Statistics for these countries : New Zealand | All
Gold and Silver Prices for these countries : New Zealand | All

Glass Earth Gold Limited

EXPLORATION STAGE
CODE : GEL.V
ISIN : CA37713P2035
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Contact Cpy

Glass Earth Gold Ltd is an exploration gold company based in New zealand.

Glass Earth Gold Ltd holds various exploration projects in New Zealand.

Its main exploration properties are OTAGO REGION, MUIRS REEF and SERPENTINE GOLD in New Zealand.

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Financings of Glass Earth Gold Limited
10/5/2012Announces Private Placement
10/5/2012Announces Private Placement
1/18/2011Announces the Closing of Final Tranches of C$4 Million Priva...
1/30/2008Private Placement Closes
1/21/2008 Private Placement Update
Option Grants of Glass Earth Gold Limited
6/14/2013Retains Anne Robert to Manage Investor Relations
1/7/2008Change of Name and Stock Options Granted
6/9/2006announces closing of $1,5 million private placement and issu...
Financials of Glass Earth Gold Limited
4/12/2013Financial Statements and Management's Discussion & Analysis ...
11/30/2012Announces Financial Statements and Management's Discussion &...
4/29/2011Financial Statements and Management's Discussion & Analysis ...
Project news of Glass Earth Gold Limited
3/29/2011(Serpentine Gold)Drilling Commences at Serpentine Gold Prospect
11/25/2010(Muirs Reef)Recommences Drilling at Muirs Reef
Corporate news of Glass Earth Gold Limited
10/17/2013Special General Meeting Approves Share Consolidation
9/9/2013- Special General Meeting Share Consolidation Proposal
8/1/2013Announces Filing of NI 43-101 Technical Report on the Minera...
4/29/2013Announces Results for WKP Drill Holes 36 & 37 and Recommence...
2/7/2013Announces Filing of NI 43-101 Technical Report on Glass Eart...
1/30/2013Announces Filing of NI 43-101 Technical Report for its Resou...
1/4/2013Closes Second Tranche of Placement
12/20/2012Addresses BCSC Review
12/12/2012Closes First Tranche of $3 Million Placement
11/19/2012Negotiates Option to Purchase Neavesville Gold/Silver Prospe...
10/31/2012Intersects Significant New Epithermal Gold Zone-East Graben ...
9/24/2012Confirms Potential for the Discovery of a Significant Gold D...
5/12/2011Announces Significant High Grade Gold Results From 'WKP-West...
4/12/2011Announces Early IFRS Conversion
12/13/2010to Raise Up to C$3 Million
11/27/2008Exploration update and interim financial statements and Mana...
9/25/2008Reports High-level Epithermal System Indicated by Broad Mine...
8/22/2008Drilling update
8/6/2008reports interim financial statements and Management Discussi...
8/1/2008Exploration Update
6/23/2008Repositioned for the future
6/20/2008engages CHF Investor Relations
6/16/2008Gold Exploration update - Drilling commences in the Otago Re...
5/20/2008announces changes to executive team
2/4/2008Glass Earth Gold news updateContent-class: urn:content-class...
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