Business
$1.4 MILLION FINANCING CLOSED
Apr. 12, 2011 (TheNewswire.ca) -- Surrey, British Columbia - Carlin Gold Corporation (TSXV:C...
About this update from Carlin Gold Corporation
[{"type":"text","content":"\n$1.4 MILLION FINANCING CLOSED\n\n Apr. 12, 2011 (TheNewswire.ca) -- Surrey, British Columbia - Carlin Gold Corporation (TSXV:CGD) (TSX Venture, CGD), (\"Carlin\" or the \"Company\") is pleased to announce that the $1,400,000 non-brokered private placement announced on March 21, 2011 has closed. The private placement was over-subscribed and the Company has issued 9,058,250 units at the price of $0.16 per unit for gross proceeds of $1,449,320.Each unit consists of one-half of one common share and half a share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.25 per share for a period of 18 months from the date of closing.The securities issued or issuable under the private placement are subject to a four-month plus one-day hold period from April 12, 2011 in accordance with applicable securities laws.The net proceeds from the sale of the shares will be applied to Yukon and Nevada exploration (TSXV:NGE) (OOTC:NVDEF) and general corporate purposes.The Company filed its material change report in respect of the financing less than 21 days before the closing of the private placement because the details of the private placement and the participation therein by one director of the Company were not settled until shortly prior to closing, and the Company wished to close the private placement on an expedited basis for sound business reasons.About CarlinCarlin is a junior resource company focused on gold exploration. The Company has a 50% joint venture interest in approximately 2,450 claims in Yukon and owns 100% of three gold exploration properties in Nevada.Yukon Joint VentureCarlin and Constantine Metal Resources Ltd. (TSXV: CEM) have formed a 50/50 Joint Venture (the \"JV\") to explore gold targets in Yukon, Canada. The JV's land position totals approximately 195 square miles. The JV owns 100% of 2,227 claims, and the right to acquire 100% interest in 226 claims subject to a 2.5% NSR royalty under an Option to Purchase Agreement (see news release dated February 17, 2011).On September 1, 2010 a ‘Carlin-type' gold drill discovery was announced by Atac Resources Ltd. (TSXV:ATC) The JV was formed to assess the opportunity to acquire similar exploration targets in the Yukon using the geochemistry, geology, and geophysics public databases provided by the Yuko...