TSX-V: MED
VANCOUVER,
April 15, 2013 /PRNewswire/ - Medgold
Resources Corp. (TSX-V: MED), the European focused gold exploration
company, is pleased to advise that it has closed its previously
announced $975,000 convertible
debenture private placement. The debentures are convertible
into 6,500,000 common shares of the Company for two years from
closing at the rate of $0.15 per
share. The debenture holder has also been issued warrants to
purchase up to 6,500,000 additional common shares at $0.15 per share, exercisable for one year from
the date of closing.
All common shares issued as a result of the
conversion of the debentures or the exercise of the warrants will
have a resale restriction until August 13,
2013.
The proceeds of the financing will be used for
exploration of the Company's projects in Europe and for general working capital
purposes.
About Medgold
Medgold is aiming to become the leading
Mediterranean-focused gold exploration and project development
company, with an extensive pipeline of projects across Portugal, Italy and Spain, targeting economically stressed, but
politically stable European countries that are seeking foreign
investment to invigorate the mining sector.
Additional information on Medgold can be
found on the Company's website at www.medgoldresources.com and by
reviewing the Company's page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
"Dan James"
Dan James, President
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
Forward-looking statement
This press release may contain forward-looking
statements including, but not limited to, comments regarding the
timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, and other related matters. Forward-looking
statements address future events and conditions and therefore
involve inherent risks and uncertainties. Medgold Resources'
projects in Europe are at an early
stage and all estimates and projections are based on limited, and
possibly incomplete, data. More work is required before the
mineralization and the projects' economic aspects can be
confidently modelled. Actual results may differ materially from
those currently anticipated in this presentation. No representation
or prediction is intended as to the results of future work, nor can
there be any promise that the estimates and projections herein will
be sustained in future work or that the project will otherwise
prove to be economic.
SOURCE Medgold Resources Corp.