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Frontline Gold Announces a $500,000 Non-Brokered Private Placement
Published : February 22, 2013
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Keywords :   Copper | Finders | Frontline Gold | Gold | Mali | Reliance | Southern | Turkey |

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Frontline Gold Corporation (News - Market indicators) ("Frontline" or the "Company") is pleased to announce its intention to carry out a non-brokered private placement of up to 25,000,000 shares at a price of $0.02 per share for gross proceeds of up to $500,000 (the "Offering). The Offering will comprise the sale of units ("Units") at a price of $0.02 per Unit. Each Unit will consist of one common share in the capital of the Company ("Common Share") and one full non-transferable Common Share purchase warrant ("Warrant"). Each Warrant shall entitle the holder to acquire one full Common Share at a price of $0.07 at any time within 12 (twelve) months from issuance, and thereafter, at a price of $0.10 until the expiry of two years from issuance, subject to the accelerated expiry provisions described below.

Finder's fees equal to 8% of the gross proceeds raised, in addition to the issuance of a number of finder warrants ("Finder Warrants") equal to 8% of the number of Units issued, shall be paid to finders or other third parties (a "Finder") upon closing. Each Finder Warrant entitles the holder to acquire an additional Common Share at an exercise price of $0.07 at any time within 12 (twelve) months of the closing of the Offering, subject to the accelerated expiry described below.

The Offering is being made pursuant to TSX Venture Exchange Bulletin which provides for temporary relief from certain pricing requirements, and accordingly, the Offering is subject to certain conditions, as well as approval by the TSX Venture Exchange and any other applicable securities legislation. The securities comprising the Units will be offered to all Qualified Purchasers resident of any Canadian Province, in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The securities issued upon the closing of the Offering will be subject to a four month hold period from the date of issue, including any other re-sale restrictions imposed by applicable securities regulatory authorities. Insiders of Frontline may, subject to regulatory approval, participate in up to 25% of the Offering. 

If, commencing four months after the closing of the Offering, the common shares of Frontline trade at or above $0.19 on the TSX Venture Exchange for a minimum of 20 consecutive trading days, then Frontline shall have the right to give notice of early expiry of the Warrants. Early expiry shall accelerate and be automatically amended to be the 30th day after the date on which Frontline gives notice to the Warrant holder of such acceleration. 

The proceeds from the Offering will be used for property option payments, exploration expenditures and general and administrative costs.

About Frontline Gold Corporation

Frontline is a Canadian junior mineral exploration company with an experienced discovery team and a proven record of accomplishment. The Company's flagship properties include the Menderes gold project in the Izmir province of Western Turkey and the Niaouleni gold project in southern Mali in the heart of West Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly (gold VMS) and the Stewart (gold-copper porphyry) projects.

For further information, please visit the Company's website at www.frontlinegold.com to view the most recent corporate presentation.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Walter Henry, President & CEO

FRONTLINE GOLD CORP.

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

Frontline Gold Corp.
Walter Henry
President & CEO
(416) 362-9100
(416) 362-9300 (FAX)
info@frontlinegold.com
www.frontlinegold.com
Data and Statistics for these countries : Mali | Turkey | All
Gold and Silver Prices for these countries : Mali | Turkey | All
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Frontline Gold Corp.

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CODE : FGC.V
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In the News and Medias of Frontline Gold Corp.
2/23/2011Shares rise in Canada's Frontline Gold after new deposits di...
Financings of Frontline Gold Corp.
9/30/2013Announces Closing of Private Placement
9/16/2013Extends Private Placement
7/15/2013Extends Private Placement
5/30/2013Extends Private Placement
4/17/2013Extends Private Placement
2/22/2013Announces a $500,000 Non-Brokered Private Placement
12/20/2011Announces Closing of Private Placement
11/4/2011Announces Private Placement Offering
6/8/2011Announces Closing of First Tranche of Private Placement
5/4/2011Announces Private Placement
Option Grants of Frontline Gold Corp.
3/19/2013Announces Stock Option Grant
10/25/2011Announces Stock Option Grant
Nominations of Frontline Gold Corp.
8/26/2011Announces Appointment of Tom Hussey as Board Member
Project news of Frontline Gold Corp.
4/2/2013(Menderes)Completes 100% Interest in Menderes Turkey Asset
1/30/2013(Menderes)Amends the Terms of Its Option Agreement Regarding the Mende...
5/22/2012Expands Poly Project in the Stewart Gold Camp, NW BC
4/19/2012highlights planned 2012 Exploration Programs at its Poly and...
2/22/2012(Menderes)Commences Diamond Drill Program on the Menderes Gold Project...
1/12/2012Provides an Update on the 2011 Exploration Programs at the P...
1/4/2012(Menderes)Announces Drill Contract for Menderes Gold Project, Located ...
12/22/2011(Menderes)Makes Option Payment on the Menderes Gold Project, Located i...
12/19/2011Makes Payment on the Poly Project in the Stewart Gold Camp, ...
11/8/2011Makes Payment on the Poly Project in the Stewart Gold Camp, ...
11/7/2011(Menderes)Receives Drill permit for its Menderes Gold Project, Izmir ...
10/25/2011Provides an Update on the 2011 Exploration Program on the Po...
10/18/2011(Menderes)Expands Exploration Activities at Menderes Gold Project, Izm...
10/13/2011(Niaouleni)intersects 1.76 g/t Au over 8.5 metres and extends the R1 go...
9/28/2011Announces Results from Summer 2011 Prospecting Program on it...
9/22/2011announces the commencement of the 2011 diamond drill program...
8/24/2011Announces Drill Contract for the Poly Project in the Stewart...
6/30/2011Reports the Initiation of the 2011 Exploration Programs on t...
6/29/2011(Menderes)Completes Soil Geochemistry Analysis and Commences IP Survey...
6/29/2011(Menderes)Completes Soil Geochemistry Analysis and Commences IP Survey...
5/30/2011(Menderes)Advances Initial Exploration at Menderes Gold Project, Izmi...
5/5/2011Frontline Gold Stewart Camp Property Payments
5/5/2011Frontline Gold Stewart Camp Property Payments
4/27/2011Stewart Camp Property Payments
4/12/2011Stewart Camp Property Payments
4/1/2011(Menderes)Renames Turkish Gold Project
2/22/2011(Niaouleni)Confirms 4 Gold Structures at Niaouleni and Intersects 21.56...
11/22/2010(Niaouleni)Starts Diamond Drilling at Niaouleni
11/17/2010(Jubilee)TSX Approves Disposition of Jubilee Zinc Lead Project
Corporate news of Frontline Gold Corp.
6/7/2013Announces Shares for Debt Agreement for US$200,000
6/7/2013Announces Shares for Debt Agreement for US$200,000
5/29/2013Defending Claim
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
5/28/2013-Results of Annual and Special General Meeting of Shareholde...
3/27/2013Announces Shares for Debt Transaction
3/14/2013Initiates Strategic Review Process
3/13/2013Announces Significant Drill Ready Base-Precious Metal VMS Ta...
3/7/2013Announces Results of 2012 Surveys Completed on the Poly Prop...
12/7/2012Purchases Remaining 10% of Turkish Assets
11/8/2012(Menderes)Announces Discussions Regarding Menderes Turkey Asset
10/2/2012Announces Completion of Phase 1, 2012 Follow-Up Program on t...
7/4/2012Results of the Annual and Special General Meeting of Shareh...
6/5/2012(Menderes)Submits Application for Operating License on the Menderes Pr...
10/18/2011FGC update by Edison Investments
8/23/2011Identifies 2 IP Anomalies from IP/Resistivity Survey
8/17/2011Divests Share Position held in Merrex Gold Inc.
8/17/2011Edison Investment Research report on Frontline Gold
7/13/2011-Results of the 2011 Annual and Special General Meeting of S...
6/23/2011Annual and Special Meeting of Shareholders
6/22/2011Announces Loan from President and CEO
6/15/2011Announces Initiation of Edison Investment Analyst Coverage
6/9/2011News Release
5/19/2011(Niaouleni)New Gold Discovery and Resumption of Diamond Drilling at Nia...
5/5/2011Engages Auburn Partners as Investor Relations Consultants
4/27/2011Stewart Property Payments
4/12/2011Frontline Gold Corp.
4/7/2011Frontline Gold Corp.
4/7/2011Frontline Gold Corp.
4/7/2011Adds Darryl Sittler as an Independent Director to Board
4/7/2011(Niaouleni)Makes a Gold Discovery, Completes RC Drilling Program and Re...
3/3/2011Frontline Gold Corp.
3/3/2011Announces $500,000 Exploration Program at Efemcukuru
2/23/2011Frontline Gold Corporation
2/23/2011-Stock Options
2/23/2011Stock Options
2/22/2011Frontline Gold Corporation
2/11/2011Frontline Gold Corporation
2/1/2011Frontline Gold Corporation
1/11/2011Frontline Gold Corp.
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12/23/2010Frontline Gold Corp.
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11/29/2010Frontline Gold Corporation
11/29/2010Change of Officer
11/29/2010Frontline Gold Corporation
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TSX-V (FGC.V)
0.005+0.00%
TSX-V
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