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Batero Closes Private Placement With Consorcio Minero Horizonte S.A.
Published : December 13, 2012
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Keywords :   Canada | Colombia | Copper | Gold | Gold Mine | Gold Producer | Peru |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2012) - Batero Gold Corp. (News - Market indicators) ("Batero" or "the Company") is pleased to announce that further to its news releases dated November 1 and 29, 2012, it has closed the private placement offering with the shareholders of Consorcio Minero Horizonte S.A. ("Horizonte") of an aggregate (a) 8,913,000 common shares of the Company at a price of $0.65 per share and (b) 18,456,000 subscription receipts of the Company at a price of $0.65 per subscription receipt, for aggregate gross proceeds of $17,789,850 (together, the "Offering"), on the terms as described in the Company's news release of November 29, 2012.

Before giving effect to the completion of the Offering and the conversion of subscription receipts, the Horizonte Group directly or indirectly owned or controlled approximately 8.9% of Batero's issued and outstanding shares, on a partially diluted basis. Following the Offering, Horizonte, together with its affiliates and shareholders (the "Horizonte Group") now owns or controls approximately 19.9% of Batero's issued and outstanding shares, assuming exercise of all convertible securities held by the Horizonte Group (excluding securities underlying the subscription receipts). Upon conversion of the subscription receipts, the Horizonte Group is expected to own or control approximately 35% of Batero's issued and outstanding shares. The conversion of the subscription receipts is expected to occur in January, 2013, subject to receipt by Batero of the requisite approval from its shareholders and TSX Venture Exchange. The Company has scheduled an annual and special general meeting of shareholders on December 31, 2012 for the purposes of, among other things, approving the conversion of the subscription receipts.

All of the securities issued under the Offering are subject to a statutory hold period until April 14, 2013 in accordance with applicable Canadian securities laws.

The proceeds of the Offering will be dedicated to the development of the Company's Batero-Quinchia Gold Project located in Colombia and for working capital and administrative purposes relating to the Batero-Quinchia Project.

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.

About Batero Gold

Batero Gold Corp. is a Vancouver-based precious and base metals exploration and development company focused on its 100% owned Batero-Quinchia project in the Quinchia district of Colombia's emerging Mid-Cauca porphyry gold and copper belt. The Company is evaluating the most efficient mine scenario at the La Cumbre deposit, one of three porphyry deposits at the Batero-Quinchia Project. Batero plans to leverage its strong management team, regional relationships, and strategic partnership, to develop its prospective project into Colombia next major mining venture.

About Horizonte Group

The Horizonte Group is a group of private Peruvian companies focused on the exploration, development and production of gold deposits in Peru and elsewhere in South America. The Horizonte Group is Peru's fifth largest gold producer with a 2012 production estimate of 230,000 ounces and production to date of over 2.5 million ounces of gold. They own and operate the Parcoy mine in the Pataz Batholith in northern Peru, the second largest underground gold mine in Peru; and the Untuca open pit mine in southern Peru. The Horizonte Group also controls over 150,000 hectares of mining prospects. In addition to striving for efficient mining operations, the Horizonte Group is dedicated to operating under strict environmental, safety and technological standards.


Brandon Rook, President & CEO

Batero Gold Corp.


Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information." Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward looking statements or information related to, among other things, the expected shareholdings of the Horizonte Group, the expected date of conversion of the subscription receipts and the planned use of proceeds from the Offering.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings in order to continue its operations and the planned exploration and development of the Batero-Quinchia Project, and the risk that such funds may not be raised; the ability for the Company to obtain the requisite regulatory and shareholder approval for the transaction; the speculative nature of exploration and the stages of the Batero-Quinchia Project; the effect of changes in commodity prices; regulatory risks that development of the Batero-Quinchia Project will not be acceptable for social, environmental or other reasons and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

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

Batero Gold Corp.
Companies Mentionned : Batero Gold | Metals X | Reliance | Southern | Strategic |
Data and Statistics for these countries : Canada | Colombia | Peru | All
Gold and Silver Prices for these countries : Canada | Colombia | Peru | All

Batero Gold Corp

ISIN : CA0705051021
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Batero Gold is an exploration gold company based in Canada.

Its main exploration property is BATERO QUINCHIA in Colombia.

Batero Gold is listed in Canada. Its market capitalisation is CA$ 6.6 millions as of today (US$ 5.0 millions, € 4.5 millions).

Its stock quote reached its highest recent level on November 02, 2012 at CA$ 0.59, and its lowest recent point on December 12, 2014 at CA$ 0.06.

Batero Gold has 87 960 000 shares outstanding.

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Financings of Batero Gold Corp
12/17/2012Closes Private Placement With Consorcio Minero Horizonte S.A...
11/2/2012Announces Private Placement of $17.8 Million at 46% Premium ...
4/30/2012Closes $6.3 Million Special Warrant Financing
4/16/2012Announces Upsize to Proposed Special Warrant Financing for G...
11/28/2011Announces Closing of C$7.2 Million Bought Deal Private Place...
11/7/2011Announces C$6.3 Million Bought Deal Private Placement Equity...
11/7/2011Announces Increase to Previous Bought Deal Private Placement...
6/1/2010Non brokered private placement of 5,000,000 shares at $0.20 ...
2/4/2010Non brokered financing of 5,000,000 shares to raise $ 1milli...
12/14/2009Private placement of up to 5 million common shares at a pric...
Option Grants of Batero Gold Corp
2/21/2011Grants Options
11/23/2010 Batero Gold grants 1.659.000 options at $ 2.39
Nominations of Batero Gold Corp
6/29/2012Announces Appointments to Advisory Board and Director Resign...
6/28/2012Appoints Leonard (Len) Harris to Board of Directors
12/14/2011Announces Appointment of Dr. Darryl Lindsay to Senior Vice P...
10/5/2011Appoints Dr. Darryl Lindsay as Chief Operating Officer
11/17/2010Appoints Mr. James Hutton to the Board of Directors
Project news of Batero Gold Corp
11/15/2012Extends Continuity of Higher Grade Core of Oxidized Gold Min...
9/13/2012Expands Higher Grade Core of Oxidized Gold Mineralization at...
7/26/2012Reports Additional Metallurgical Results from La Cumbre Depo...
7/20/2012Commences Drill Program at La Cumbre Deposit
7/18/2012Announces Work Program to Assess Development of La Cumbre De...
3/22/2012Reports Preliminary Oxide Resource Potential and Metallurgic...
2/27/2012Initial 43=2D101 Resource Estimate
12/15/2011Extends Mineralization
12/13/2011secures 100 percent ownership of surface rights in immediate...
12/7/2011Drill Results News Release
11/3/2011Extends Dos Quebradas Porphyry Zone and Continues to Interse...
9/16/2011Drills Vertical Hole Intersecting 751.00 metres Grading 0.54...
5/10/2011Completes 100% Acquisition of Two Historic Gold Mines on Bat...
4/1/2011PDAC- Toronto March 2011 - Batero-Quinchia Project Colombia ...
3/7/2011(Batero Quinchia)Intersects 460.00 Metres Grading 0.70 g/t Gold and 0.12% Cop...
2/17/2011(Batero Quinchia)Intersects 519.70 Metres Grading 0.80 G/T Gold and 0.14% Cop...
2/11/2011Initiates Preliminary Metallurgical Testing on the Batero-Qu...
1/5/2011Completes Geophysical Survey and Provides Exploration Update
4/1/2010(Batero Quinchia)proposes to advance a refundable deposit of $200,000 to Soci...
1/6/2010(Batero Quinchia)MOU to acquire all of the issued and outstanding shares of S...
12/14/2009(Batero Quinchia)2009 Technical report
10/16/2009(Batero Quinchia)Angus Signs MOU to Acquire Colombian Property
Corporate news of Batero Gold Corp
9/24/2015Batero to Acquire All Shares Tendered to Its Superior Offer ...
9/18/2015Batero Remains Committed to Its Superior Offer and Extends B...
9/15/2015Batero Bid Remains the Best Option for CB Gold Shareholders
9/15/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
9/12/2015Red Eagle's Allegations Dismissed by BCSC -- Batero's Bid Re...
9/9/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
9/9/2015Batero Mails Increased Offer to Acquire CB Gold and Acquires...
9/8/2015Batero Announces Entering Into of a Letter of Intent for Pro...
9/5/2015Batero Significantly Raises Offer to Acquire CB Gold
9/4/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
9/1/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
8/27/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
8/25/2015Batero Gold Corp. Reaffirms Superior Proposal to Acquire All...
8/25/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. in ...
8/21/2015Batero Gold Corp. Acquires Common Shares of CB Gold Inc. Thr...
8/19/2015Batero Gold Corp. Earnings Q2*, 2015
8/12/2015Batero Gold Corp. Commences Offer To Acquire CB Gold Inc.
8/11/2015Batero Gold Corp. Commences Offer to Acquire CB Gold Inc.
7/24/2015IIROC Trading Resumption - BAT
7/24/2015Batero Gold Announces Friendly Acquisition of CB Gold
7/24/2015IIROC Trading Halt - BAT
7/9/2015Batero Samples 2.64 g/t Au in La Cumbre Oxide
5/6/2015Batero Provides Exploration and Corporate Update
3/24/2015Investors See A Silver Lining In Europe's Plain Packaging La...
3/1/2015Batero Provides Exploration and Corporate Update
1/28/2015Reports Results of Oxide Sampling Program
1/28/2015Batero Reports Results of Oxide Sampling Program
12/18/2014Batero Provides Corporate Update
6/3/2014Batero Provides Corporate Update
4/8/2014Batero Launches Corporate Shared Value Alliance Program In Q...
3/26/2014Batero Gold Appoints Dr. Roger Moss as President and CEO
11/5/2013Announces Preliminary Economic Assessment for the Batero-Qui...
10/2/2013Receives Confirmation of Registration of Concession Contract
9/19/2013Provides Corporate Update
6/18/2013to Commence Drilling On Two New Oxide Targets at La Cumbre
5/14/2013Provides Corporate Update
3/21/2013Releases 2012 CSR Report=2C Outlines Key Programs Integral T...
1/7/2013Announces Conversion of Subscription Receipts and New Board ...
12/31/2012Announces Results from Annual General and Special Meeting
11/29/2012Enters Into Definative Agreements With Consorcio Minero Hori...
7/5/2012Adopts Shareholder Rights Plan
6/18/2012Announces Receipt for Final Prospectus for the Qualification...
5/15/2012Clarifies Technical Disclosure
3/14/2012Files NI 43=2D101Technical Report and Announces 2012 Plans
3/14/2012Files 43=2D101 on Sedar and Provides Update
1/18/2012in Globe and Mail Newspaper + Presentation Invitation
1/16/2012Concession Agreement Confirmation
11/30/2011Provides Corporate Update
10/12/2011Reports Further Drilling Results from Batero-Quinchia Projec...
8/30/2011Reports Further Drilling Results from Batero-Quinchia Projec...
5/19/2011Drills Deepest Mineralized Intercept to Date in Vertical Hol...
5/5/2011Provides Corporate Update
1/11/2011Presentation and Reception at the Fairmont Pacific Rim - Jan...
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