Integra Gold (ICG-V) June 12, '14 announces private placement oversubscribed, increased to $8,000,000 due to demand
Integra Gold is pleased to announce that due to substantial interest, it has increased the size of its previously announced non-brokered private placement (the "Offering"), to $8,000,000. The Company anticipates approximately 75% of the Offering, or $6,000,000 will be allocated to non-flow through unit subscribers, with the balance made up of flow through shares.
"It is extremely encouraging to see this level of interest in the offering, a testament to the strength of the Lamaque Gold Project. We want to be Quebec's next gold producer and remain diligently focused on developing Lamaque. We are grateful to have the support of numerous key investors, both new and existing, as we head down this path," commented Company President and CEO, Stephen de Jong.
The modified terms of the Offering will now provide for the issuance of up to a maximum of 40,000,000 common shares at a price of C$0.20 per non-flow through unit and $0.26 per flow-through share. For further details of the private placement refer to the Company's news release dated June 10, 2014.
The Offering is expected to close prior to the end of June 2014, and remains subject to the approval of the TSX Venture Stock Exchange.
Project and Company Profile
Integra's Lamaque gold project is located in the heart of the Val-d'Or gold camp in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.
The Company's primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of mineralization, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine Zones and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South Zones. The Sixteen Zone and No. 6 Vein form the West Cluster.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President |
