FOR IMMEDIATE RELEASE
Molycor�s PRIVATE PLACEMENT oversubscribed
September
3, 2009 - Vancouver, British Columbia
Further to the Company�s earlier announced news release, the Company
wishes to announce that it has increased the size of its non-brokered private
placement from 7,000,000 units up to 8,889,250 units at a price of $0.08 per
unit (the �Units�) for aggregate proceeds of up to $711,940.
Each Unit is comprised of one common share in the capital of the Company
plus a two year share purchase warrant (the �Warrant�). Each Warrant entitles
the holder to purchase one common share at a price of $0.12 for two years from
the date of issue. All of the securities issued pursuant to this private
placement will have a hold period expiring four months and one day after the
closing date.
This private placement could be subject to Finder�s Fees which will be paid
in accordance with the TSX Venture Exchange policies and is subject to the
approval of the regulatory authorities.
The Company closed the first portion of this private placement on August
24, 2009 raising gross proceeds of $224,180 comprising of 2,802,250 units.
About Molycor Gold Corp.
Molycor is a diversified precious and base metal exploration
and development company focusing on magnesium, molybdenum and gold exploration
in North America.
On Behalf of
Management
Larry W. Reaugh
Chief Executive Officer
Information Contact
Larry W. Reaugh
Chief Executive Officer
Head Office: 2A 15782
Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile:
604-531-9634
Email: info@molycor.com
www.molycor.com
Cautionary
Notice:
The Reader is cautioned that the full Cautionary Notice is not attached to this
email. The reader is requested to access the news release on the Company�s
website at www.molycor.com or at SEDAR at www.sedar.com to read the full
Cautionary Notice. The full Cautionary Notice is not attached as the
recipient�s spam filters frequently block receiving emails containing the full
Cautionary Notice.