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Skygold
Files Preliminary Short Form Prospectus For Proposed Offering Of Shares
Not for distribution to U.S. newswire services or
for U.S. dissemination
Vancouver, June 11, 2008 �Skygold Ventures Ltd. (SKV:TSX-V) announced today
that it has filed a preliminary short form prospectus with securities
regulatory authorities in British Columbia, Alberta and Ontario in connection
with a proposed public offering (the �Offering�) of common shares of the
Company for gross proceeds of up to $10 million. The Offering will be
conducted on a best efforts agency basis through a syndicate of agents led by
National Bank Financial Inc., and including PI Financial Corp. (the �Agents�).
The pricing of the
Offering will be determined based on market conditions at the time of filing
of the final short form prospectus. Closing of the Offering is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture Exchange.
The Company has also
granted to the Agents an over-allotment option exercisable, in whole or in
part, until the date that is 30 days after the date of closing of the
Offering, to sell up to such number of common shares of the Company as is
equal to 15% of the total number of shares sold under the Offering for
additional gross proceeds of up to $1,500,000.
The Company intends to
use the net proceeds of the Offering towards further exploration and analysis
of its Spanish Mountain Property and SHG properties, both of which are
located in British Columbia, and for working capital and general corporate
purposes.
SKYGOLD
VENTURES LTD
Brian Groves
Brian Groves. President
www.skygold.ca
Contact:
Tim Mikula
(604) 484-6317 or
B&D Capital Partners
(604) 685-6465
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the U.S. 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, sold or delivered within the United
States except in transactions exempt from the registration requirements of
the U.S. Securities Act and applicable state securities laws.
Statement Regarding Forward Looking Statements
This news release of Skygold Ventures Ltd. (the �Company�) contains
statements that constitute �forward-looking statements.� Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, performance or achievements,
or developments in our industry, to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified
by the words �expects,� �plans,� �anticipates,� �believes,� �intends,�
�estimates,� �projects,� �potential� and similar expressions, or that events
or conditions �will,� �would,� �may,� �could� or �should� occur.
Forward-looking statements in this document include statements regarding the
Company�s proposed public offering, including the anticipated amounts to be
raised and the use of proceeds. There can be no assurance that such statements
will prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements, and readers are
cautioned not to place undue reliance on these forward-looking statements
that speak only as of their respective dates. Important factors that
could cause actual results to differ materially from the Company�s
expectations include, among others, risks related to fluctuations in mineral
prices; fluctuations in financial markets; and other risks and uncertainties
discussed under the heading �Risk Factors� and elsewhere in the Company�s
documents filed from time to time with the TSX Venture Exchange and Canadian
securities regulators. These statements are based on a number of
assumptions, including assumptions regarding general market conditions, the
availability of financing for proposed transactions and programs on
reasonable terms, and the ability of outside service providers to deliver
services in a satisfactory and timely manner. Forward-looking
statements are based on the beliefs, estimates and opinions of the Company�s
management on the date the statements are made. Except as required by
applicable securities laws, the Company undertakes no obligation to update
these forward-looking statements in the event that management�s beliefs,
estimates or opinions, or other factors, should change.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Skygold
Ventures
Suite 615 � 800 West
Pender St.
Vancouver , B.C. V6C
2V6
tel. (604)484.6317
Fax (604) 684-0279
www.skygold.ca
For more
information contact B&D Capital Partners 604.685.6465
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