Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Vangold Closes First Tranche Of Private Placement

04/05/2012 | 07:10pm US/Eastern
Recommend:
0

April 5, 2012 -- Vancouver, British Columbia -- Vangold Resources Ltd. ("Vangold") announces that it has closed the first tranche of its non-brokered private placement announced on April 2, 2012, for gross proceeds of $160,000. The first tranche consisted of 3,200,000 Units at a price of $0.05 per Unit. Each Unit is comprised of one common share and one non-transferable warrant, a whole warrant entitling the holder thereof to purchase an additional common share of Vangold at a price of $0.10 until 4:00pm on April 4, 2014. The warrant will be subject to accelerated expiry if at any time after the date that is four months and one day after the closing, the Issuer's common shares trade on the Exchange at a price of $0.20 or more for the preceding 20 consecutive trading days.

The securities issued pursuant to the first tranche will be subject to a four month hold period expiring August 5, 2012. No finder's fees were paid on the first tranche. The closing of further tranches and the payment of any finder's fees thereon remain subject to final acceptance by the Exchange.

The proceeds from the first tranche will be used to continue the development of its projects in Papua New Guinea and working capital.

About Vangold Resources Ltd. In Papua New Guinea, Vangold has three advanced gold properties, the Mt. Penck, Fergusson and Allemata projects. The properties are located along the "Pacific Rim of Fire", the active circum-Pacific volcanic belt that is host to large copper-gold porphyry systems (Grasberg, Ok Tedi, Panguna and Frieda River) and to a number of world class epithermal gold deposits, including the multi-million ounce deposits at Barrick's Porgera and Newcrest Mining's Lihir gold mines. Headquartered in Vancouver, Canada, Vangold holds a diversified portfolio of mineral projects in North America, Papua New Guinea and Uganda, as well as oil and gas concessions in Armenia. In addition, Vangold holds a significant stake in Coppermoly Limited, an Australian listed security (ASX: COY) who has recently completed a $20 million dollar earn in agreement with Barrick to earn a 72% interest of the Simuku and Nakru properties located in the area of Mt Penck . Vangold's shares are listed on the Toronto Venture Stock Exchange under the symbol VAN and on the Frankfurt Stock Exchange under the symbol VAQ.

To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca.

On Behalf of the Board of
VANGOLD RESOURCES LTD.

"Dal Brynelsen"
Dal Brynelsen,
President and CEO

Neither 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.

Disclaimer for Forward Looking Information

This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.

Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. The Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
distributed by
Recommend :
0
React to this article
Latest news
Date Title
10m ago MINISTRY OF ECONOMY AND ENERGY OF REPUBLIC OF : Dragomir Stoynev: South Stream is a strategic project for Bulgaria; the government intends to start construction this year
16m ago BCCI BAHRAIN CHAMBER OF COMMERCE & INDUSTRY : New customs procedures for loading goods: Open meeting with BCCI and Customs
27m ago New York Pediatrician says Frequent School Moves can Affect Child's Mental Health
31m ago Manchester United’s Patrice Evra NOMINATES Liverpool star Luis Suarez as PFA Player of the Year
34m ago AGC NETWORKS : Avaya Networking Solutions Close the Gap between Data Center and End Devices
34m ago COCHLEAR : to unveil its Arabic Matrix Test at Annual Middle East Otolaryngology Conference & Exhibition
34m ago LEXMARK : Print Management brings added flexibility and savings through the channel for Middle East customers
41m ago First bodies pulled from submerged Korean ferry
41m ago OOREDOO : Introduce Ahli Bank as New Nojoom Partner
45m ago SOUTH KOREA - Divers begin pulling bodies from sunken South Korean ferry
Latest news
Advertisement
Hot News 
HAVELOCK EUROPA : Preliminary Results to 31 December 2013
LDK SOLAR : Provides Additional Information on its Request for Review of NYSE Regulation's Decision to Suspend Trading and Commence Delisting Procedures
HAYNES PUBLISHING : Third Quarter Hit By Us Inventory Returns, Weak UK
SPACEANDPEOPLE : Shares Slide As It Lowers 2014 Forecast
BLUR : Shares In Blur Group Plummet Due To Delayed Revenue Recognition
Most Read News
1d ago TEXTURA : Uncommon Uses Greengrade to Help Achieve LEED Platinum for Project VIDA
1d ago GRAHAM : Pentagon Mulls Deployment As Poland Asks For 10,000 Troops
1d ago BAYERISCHE MOTOREN WERKE : Marion County Deputies Arrest Speed Racing Driver
1d ago WPCS : Announces Launch Date for BTX Trader Platform
1d ago HMN FINANCIAL : Announces first quarter results, april 22, 2014
Most recommended articles
3d ago U.S. shares seen opening lower as tech giants stumble
3d ago Financials bolster FTSE after reassuring U.S. earnings
3d ago BLACKSTONE : earnings rise 30 percent, boosted by private equity gains
2h ago Daimler to sell DENZA electric car in China with local subsidy
2h ago BAYERISCHE MOTOREN WERKE : BMW in final stages of decision on potential new factory
Dynamic quotes  
ON
| OFF