Lateegra Arranges Financing
21 Dezember 2010 - 8:49PM
Marketwired
Lateegra Gold Corp. (the "Company") (TSX VENTURE: LRG)(FRANKFURT:
LTGB) announces that it has arranged, subject to TSX Venture
Exchange acceptance, a private placement of 5,625,000 flow-through
units (the "FT Units) at $0.40 per FT Unit for total gross proceeds
of $2,250,000 and a private placement of 2,142,858 non flow-through
units (the "NFT Units) at $0.35 per NFT Unit for total gross
proceeds of $750,000.
Each FT Unit consists of one flow-through common share and
one-half of one transferable share purchase warrant, each whole
warrant exercisable into one non flow-through common share for a
period of one year at a price of $ 0.50 per share.
Each NFT Unit consists of one common share and one-half of one
transferable share purchase warrant, each whole warrant exercisable
into one non flow-through common share for a period of one year at
a price of $ 0.50 per share.
Finders' fees may be payable in whole or in part on the
placement pursuant to the policies of the TSX Venture Exchange.
Proceeds will be used for qualified exploration expenditures on
the Company's mineral properties and for general working
capital.
The Company also wishes to advise that while remaining Chief
Consulting Geologist and Q.P., Robert Duess, P.Geo, due to personal
reasons and time constraints, has retired his position as Company
VP Exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher Verrico, President and CEO
Cautionary note: This report contains forward looking
statements, particularly those regarding cash flow, capital
expenditures and investment plans. Resource estimates, unless
specifically noted, are considered speculative. The company has not
filed a National Instrument 43-101 report on any property, but will
do so as soon as the information is available. Any and all other
resource or reserve estimates are historical in nature, and should
not be relied upon. By their nature, forward looking statements
involve risk and uncertainties because they relate to events and
depend on factors that will or may occur in the future. Actual
results may vary depending upon exploration activities, industry
production, commodity demand and pricing, currency exchange rates,
and, but not limited to, general economic factors. Cautionary Note
to US investors: The U.S. Securities and Exchange Commission
specifically prohibits the use of certain terms, such as "reserves"
unless such figures are based upon actual production or formation
tests and can be shown to be economically and legally producible
under existing economic and operating conditions.
"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."
Contacts: Lateegra Gold Corp. Christopher Verrico President and
CEO 604-669-9330 or Toll Free: 1-866-669-9377 604-669-9335 (FAX)
info@lateegra.com www.lateegra.com
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