|February 10, 2005|
Energold Announces $2.5 Million Private Placement
|Energold Mining Ltd. is pleased to announce it has entered into an agreement with Acumen Capital Finance Partners Limited for a private placement of up to 2,000,000 units at the price of $1.25 per unit, each unit consisting of one share of the Company and one half share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional share of the Company for a period to December 31, 2005, at the price of $1.50 per share. Proceeds from the placement will be applied to working capital.|
The Company will pay a Broker's fee and grant Broker's options in connection with the placement in accordance with policies of the TSX Venture Exchange. The Securities issued under the private placement will be subject to a hold period from the date of issuance in accordance with the TSX Venture Exchange policies. Subject to regulatory approval, this transaction is expected to close in March 2005.
Vancouver-based Energold Mining Ltd. is a profitable exploration company that holds a 50% interest in contract diamond driller Kluane International Drilling, a controlling interest in silver explorer IMPACT Minerals International Inc. (IPT: TSX.V), as well as a portfolio of projects in the Dominican Republic.
On behalf of the Directors of Energold Mining Ltd.
"Frederick W. Davidson"
For further information, please contact:
Fred Davidson or
Darrell Rader - Corporate Development
900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
Telephone 604 681-9501
Facsimile 604 681-6813
The TSX Venture Exchange has neither approved nor disapproved this news release.
You can view the Next News Releases item: Fri Feb 11, 2005, Previously Announced Private Placement Increased
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