|March 03, 2005|
Energold Mining Ltd. Announces Completion of Private Placement
|Energold Mining Ltd. (EGD:TSX.V) (the "Company") is pleased to announce today the successful completion, subject to final regulatory approvals, of a previously announced $3,000,000 private placement financing. |
The Company engaged Acumen Capital Finance Partners Limited to complete the private placement of 2,400,000 Units of the Company to qualified investors at a price of $1.25 per Unit. Each Unit is comprised of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant entitles the purchase of one common share of the Company at a price of $1.50 per share until December 31, 2005. The Company paid a cash commission to the agent and issued Broker's Options entitling the purchase of up to 180,000 Units of the Company at a price of $1.40 per Unit until December 31, 2005. The securities issued under the private placement will be subject to a hold period from the date of issuance in accordance with applicable securities laws and TSX Venture Exchange policies.
Proceeds from the private placement will be used for general working capital purposes.
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
The TSX Venture Exchange has neither approved nor disapproved this news release.
900 - 543 Granville St.
Vancouver, B.C. V6C 1X8
Telephone 604 681-9501
Facsimile 604 681-6813
You can view the Next News Releases item: Tue Mar 22, 2005, Energold Exercises Warrants
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