Levon Resources (LVN-T) Oct 21, '14 has closed a private placement with a group of U.S. investors, including Dr. Philip Frost, Barry Honig and Michael Brauser, that was announced on Oct. 15, 2014. Pursuant to the placement, Levon issued 27 million common shares at a price of 22 cents per share for gross proceeds of $5.4-million (U.S.). The common shares sold in the placement are subject to a four-month hold period under applicable Canadian securities laws which expires on Feb. 22, 2015.
Levon also announces that it has completed the previously announced purchase of 35,178,572 common shares of Pershing Gold Corp.
"Ron Tremblay"
Ron Tremblay
President and Chief Executive Officer
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Levon Resourcesis pleased to announce it has agreed to make an investment into Pershing Gold Corporation in the amount of US $9.85 million, acquiring 35,178,572 shares of common stock of Pershing, representing an approximate 9.9% interest in Pershing. The transaction is expected to close on or about October 17, 2014. Pershing's common stock is traded on the OTCQB under the symbol PGLC.
The common shares have not been registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the foregoing securities in any jurisdiction, including in the United States, in which such offer, solicitation or sale would be unlawful.
About Levon Resources Ltd.
Levon is a gold and precious metals exploration Company, exploring the company's 100% owned flagship Cordero bulk tonnage silver, gold, zinc, and lead project near Hidalgo Del Parral, Chihuahua, Mexico.
For further information, contact the Company IR Direct at 604-682-2991, or main office number 604-682-3701.
ON BEHALF OF THE BOARD
"Ron Tremblay"
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Ron Tremblay
President and Chief Executive Officer |
