Dawson Gold Closes First Tranche of Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/23/11 -- Dawson Gold Corp. (TSX VENTURE: DYU)(FRANKFURT: 3DG) ("Dawson Gold" or the "Company") announces that further to the Company's news and the special resolution passed by shareholders on September 23, 2011, the Company has received TSX Venture approval to consolidate its capital on a 2 old for 1 new basis. As a result, effective at the opening on November 23, 2011, common shares of Dawson Gold Corp. will commence trading on TSX Venture Exchange on a consolidated basis.
The Company is also pleased to announce that it subject to TSX Venture Exchange acceptance, it will proceed to close an initial tranche of its previously announced 24 million unit private placement financing. The first tranche consists of 1,780,000 units for gross proceeds of $189,000. The units are being offered at $0.05, with each unit consisting of one share and one share purchase warrant. Each warrant entitles the holder to acquire an additional share for a period of 18 months from the closing date at a price of $0.10.
In connection with the first tranche, the Company will pay finder's fee commissions of $11,340 cash and 208,800 finder's warrants. Each finder's warrants are exercisable at $0.10 into one common share of the Company for 18 months from the issuance date.
The securities issued pursuant to the first tranche and the finders' fees are subject to a four-month hold period from the date of closing. The Company will pay a finder's fee of up 6% in cash and warrants or 6% in units on all or part of the private placement.
The proceeds from the Offering will be used to fund exploration on the Company's Toro project in Yukon and for general working capital purposes.
About Dawson Gold Corp.
Dawson Gold Corp. is a mineral exploration company, focused on the exploration and development of precious/base metals properties located in Yukon. The Company is based in Vancouver, and is supported by an aggressive management team with strong ties to the Yukon. Dawson's cornerstone asset is the Toro Gold Property located in the southern end of the White Gold District, in the Dawson Range. The Toro Gold Project covers over 412 contiguous claims (approximately 8,300 hectares) of prospective ground. Dawson has an option to earn a 100% interest in the Toro Gold Property from Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Paul D Gray, P.Geo., Chief Executive Officer
Dawson Gold Corp.
For additional information please visit the Company's website at .
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Dawson Gold Corp.
Paul D. Gray
Chief Executive Officer
604.687.2471
604.687.2472 (FAX)
Dawson Gold Corp.
Sarah Jones
Corporate Communications
604.568.2486
Dawson Gold Corp.
Julie Hajduk
Corporate Communications
604.568.2486
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Unternehmensinformation / Kurzprofil:
Datum: 23.11.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 90628
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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