PMI Gold Corporation - $2.75 million private placement, drilling program expanded
Tue Aug 25, 9:47 AM
ca.news.finance.yahoo.com
/THIS NEWS RELEASE IS
TSX Venture Exchange: PMV
US PMVGF.PK
Frankfurt/Berlin: AOJMW7
Issued & Outstanding: 148,989,570
Fully Diluted: 223,756,033
VANCOUVER, Aug. 25 /CNW/ - PMI Gold Corporation (TSX.V:PMV), the Company is pleased to announce it will use its best efforts to raise up to $2.75 million by the private placement of up to 27.5 million units of the Company to accredited investors at the price of $0.10 per unit. Each unit will be comprised of one common share and one share purchase warrant exercisable at a price of $0.15 per share for two years.
Proceeds from the private placement will be used to retire our outstanding secured debt, to pay down accounts payable and to expand the drilling program currently underway on our Kubi Gold project in Ghana. A finders fee may be payable on a portion of the offering.
The private placement is subject to receipt of necessary stock exchange approvals.
On behalf of the Board,
"Douglas R. MacQuarrie"
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. We Seek Safe Harbour.
Contacts
Douglas MacQuarrie
President & CEO
Telephone: (604) 682-8089
Toll-Free: (888) 682-8089
Facsimile: (604) 682-8094
or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814
e-mail: frram@aon.at
Or visit the PMI Gold Corporation website at www.pmigoldcorp.com |
