| | Publié le 02 décembre 2009 | Completes Second Tranche of Private Placement |
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MINERAL PROCESSORS
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CANADA GOLD COMPLETES SECOND TRANCHE OF PRIVATE PLACEMENT |
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Vancouver, British Columbia - December 01, 2009 - Canada Gold Corporation ("Canada Gold" or the "Company") (TSX.V: CI, FRKFRT: T9N, OTC-BB: CNGZF) announces that further to its news release dated November 09, 2009, the TSX Venture Exchange has approved the second tranche of the Company's private placement for gross proceeds of $885,000. These units are subject to a four month hold expiring March 26, 2010.
The Company has issued 2,681,818 common shares and 1,340,909 share purchase warrants, and together with the first tranche, the Company has issued a total of 3,500,000 shares and 1,750,000 warrants for total proceeds of $1,115,000. Each whole warrant entitles the holder to purchase an additional common share of the Company at a price of $0.50 in the first 12 months from closing and $0.65 within the next 12 months of closing. Both time periods are subject to a warrant exercise acceleration clause if the underlying common shares trade at or above $0.80 for a period of 20 trading days. Hidden Placees - 39 Insider Participation - Andrew Neale - 295,818 units Finders fees for the placement equaled $70,488 in cash and 187,100 warrants.
Canada Gold is currently developing a mineral processing facility in Northern Peru. The proceeds of the private placement will be used for plant site acquisition costs, initial deposits on long lead time equipment purchases, environmental impact studies, on-site engineering and general working capital.
ABOUT CANADA GOLD
Canada Gold has been formed for the express purpose of developing modern ore processing facilities near small-scale (artisanal) mining communities. By providing local miners with access to advanced ore processing techniques, the Company will assist these mining communities to establish sustainable socio-economic standards by encouraging entrepreneurship, curtailing health and safety risks, improving access to education and equipment, reducing environmental degradation, and minimizing the pressures contributing to child labor.
Local communities are showing strong support for the project as they understand the local social and economic benefits of having a modern processing facility located within their existing mining areas. Regional and Federal regulators have also voiced strong support for the project. The Canada Gold facility will provide an alternative processing option to the numerous small unregulated mercury amalgamation plants in the area and the associated health and environmental impacts accruing from these small scale processing activities. The start-up and commissioning of Canada Gold's first processing plant in Northern Peru is scheduled for late 2010. ABOUT ARTISANAL SMALL SCALE MINING
Much of the developing world possesses significant informal artisanal small scale mining communities, often characterized by low health, safety and environmental standards, but also significant social and economic influence. The organization of Communities and Small Scale Mining ("CASM") has estimated that between 13 and 20 million men, women, and children from over 50 developing countries are active in small scale mining activities, with 100 million more dependent on this sector for their livelihood. For more information, please contact our Head Office.On behalf of the Board,
Dave McMillan Executive ChairmanChad McMillanVice President, Corporate Communications
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the 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. |
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Canada Gold Corporation, 520 - 700 West Pender Street, Vancouver BC, V6C 1G8, Canada |
t: 604.685.5851 f: 604.685.7349 e: ir@canadagold.com |
This message was sent from Chad McMillan to .com. It was sent from: Animus Ventures Inc., 520 - 700 West Pender Street., Vancouver, BC V6C 1G8, Canada. You can modify/update your subscription via the link below. |
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Données et statistiques pour les pays mentionnés : Canada | Tous Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous
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Canada Gold
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EXPLORATEUR |
CODE : CI.V |
ISIN : CA1350831030 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Canada Gold est une société basée au Canada. Son principal projet en exploration est PIURA au Perou. Canada Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 570 000 CA$ (535 800 US$, 393 706 €). La valeur de son action a atteint son plus haut niveau récent le 16 octobre 2009 à 0,50 CA$, et son plus bas niveau récent le 14 février 2014 à 0,01 CA$. Canada Gold possède 22 800 000 actions en circulation. |
Financements de Canada Gold |
Nominations de Canada Gold |
Communiqués de Presse de Canada Gold |
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