|March 18, 2004|
Energold Closes Private Placement To Raise $700,000
|Energold Mining Ltd. has now closed its recently announced private placement of 1,000,000 units of the Company at the price of $0.70 per unit, each unit consisting of one common share and one-half non-transferable warrant, each whole warrant entitling the holder to purchase one additional share of the Company at a price of $0.75 per share, until March 11, 2006.|
With respect to 970,000 units, the shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until July 12, 2004 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
With respect to 30,000 units, the shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until March 12, 2005 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange. Upon coming into effect of the new Multilateral Instrument 45-102, if implemented as proposed, on March 30, 2004, the resale restrictions which apply to these 30,000 units will reduce the hold period to four months expiring July 12, 2004.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader -- Corporate Development
The TSX Venture Exchange has neither approved nor disapproved this news release.
You can view the Next News Releases item: Tue Mar 30, 2004, Energold Expands Real De Belem Project And Announces Upcoming Drill Program
You can view the Previous News Releases item: Fri Feb 20, 2004, Arrangement for Sale of Shares
You can return to the main News Releases page, or press the Back button on your browser.