Vangold Mining Corp. (TSXV:VAN) (OTC Pink:VGLDF) (FSE:E35B) (“Vangold” or the “Company”) is pleased to announce a non-brokered private placement financing of up to 16,666,667 Units consisting of one common share and one share purchase warrant at a price of $0.12 per unit (the “Offering”). Each warrant will entitle the holder to purchase one common share at $0.25 per share until the close of business on the day which is 36 months from the date of issue of the warrant.
Vangold intends to use the proceeds of up to $2,000,000 of the Offering to fund the Phase 2 drill program targeting the lower El Pinguico vein extension, and for general working capital.
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange. Finders fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing.
About Vangold Mining Corp.
Vangold is a development-stage silver and gold company with nine mining concessions in the Guanajuato, Mexico Mining District. Vangold is aggressively pursuing its production plans by bringing the historic El Pinguico mine back online. Having an acquisition focus, targeting advanced mineral properties and the pursuit of near production opportunities will continue to fuel our growth.
ON BEHALF OF THE BOARD OF DIRECTORS
“Cameron S. King”
President, CEO and Director
O: + 1-778-945-2940
M: +1 604 499 6545
For further information contact:
Mr. Howard Milne, Corporate Development
Further information is available on Vangold Mining’s website at: www.vangoldmining.com.
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Vangold’s expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Vangold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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.
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