Z-Gold Exploration Inc.: Private Placement
12 August 2011 - 9:21PM
Marketwired
Z-Gold Exploration Inc. (TSX VENTURE: ZGG) is announcing that the
private placement announced on June 2, 2011 has not been closed.
The Company expects to close this placement in the coming weeks and
has requested an extension to the TSX-Venture.
Z-Gold Exploration Inc. has engaged Union Securities Ltd. to act
as its agent, on a commercially reasonable basis, to offer by way
of brokered private placement of up to10,000,000 units ("Units")
and/or flow-through units ("Flow-Through Units") at a price of
$0.15 per Unit or Flow-Through Unit for aggregate gross proceeds of
$1,500,000. Each Unit is comprised of one common share and one
common share purchase warrant (a "Warrant"). Each Flow-Through Unit
is comprised of one flow-through common share and one-half of one
(1/2) Warrant. Each whole Warrant will allow the subscriber to
purchase one non flow-through common share (a "Common Share") of
the Company at a price of $0.25 per Common Share and will be valid
for a period of 24 months from the date of the closing.
Union Securities Ltd. will receive a commission of 8% in cash
based on all the Flow-Through Units and Units sold. In addition,
Union Securities will receive compensation options equal to 10% of
all Flow-Through Units and Units sold pursuant to this
offering.
The securities issued pursuant to this private placement are
subject to a hold period of four months and one day from closing.
This placement is subject to the approval of the regulatory
authorities.
About Z-Gold Exploration Inc.
Z-Gold has as its flagship property the Abitibi Gold Property
located in Munro Township in the famous Timmins mining camp. There
are many surface gold showings that require investigation by ground
geophysical surveys and followed up by a diamond drilling program.
A recent airborne survey has successfully outlined many EM and
magnetic structural features. A geophysical feature similar to the
Croesus mine has been identified. The Abitibi Gold Property
consists of 112 claims located approximately 86 kilometres east
northeast of the city of Timmins in the Larder Lake Mining
Division, Ontario.
Z-Gold Exploration Inc. is a publicly listed company trading on
the TSX Venture (ZGG).
This document may contain forward-looking statements relating to
Z-Gold's operations or to the environment in which it operates.
Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict and
may be beyond Z-Gold's control. A number of important factors could
cause actual outcomes and results to differ materially from those
expressed in forward-looking statements, including those set forth
in other public filling. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should
not placed on such forward-looking statements. Z-Gold disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, save and except as may be required by applicable
securities laws.
This press release was prepared by Z-Gold Exploration Inc.
Neither the TSX Venture Exchange Inc nor its Regulation Services
Provider (as that term is defined in the Policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Rodrigue Tremblay President and CEO (888) 764-5195
(819) 797-0596 (819) 797-6050 (FAX) www.zgoldexploration.com
z-gold@tlb.sympatico.ca
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