Wesgold Completes $2.0 Million Financing; Appoints Chairman of the Board

About this update from Cordoba Minerals Corp.

[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Aug. 18, 2011 /CNW/ - Wesgold Minerals Inc. (TSX-V: WSG) is\n pleased to announce that it has closed its previously announced $2.0\n million private placement of convertible debentures.  The debentures\n are convertible into a maximum of 4,255,318 common shares of the\n Company at the rate of $0.47 per share on or before July 31, 2012, and\n bear interest at the rate of 8% per annum.\n\n\nThe debentures and any shares which may be issued thereunder have a\n resale restriction until December 19, 2011.\n\n\nSimon Ridgway Appointed as Chairman\n\n\nWesgold is also pleased to announce that Simon Ridgway has been\n appointed a Director and Chairman of the Board.  Mr. Ridgway is a well\n known financier with over 20 years of mining and exploration experience\n worldwide.  He is currently the Chairman of Fortuna Silver Mines Inc,\n and President and director of Radius Gold Inc.\n\n\nAbout Wesgold Minerals\n\n\nWesgold Minerals Inc. is a Vancouver-based mineral exploration company\n focused on the acquisition and exploration gold and copper projects in\n Colombia. Wesgold recently optioned the Cordoba property, covering\n 25,790 hectares in the Department of Cordoba, Colombia, 200km north of\n the city of Medellin. These claims cover underexplored marine\n volcano-sedimentary rocks and are prospective for porphyry copper/gold\n and iron-oxide-copper-gold-style (IOCG) mineral deposits. Numerous\n artisanal gold workings occur throughout the Cordoba property, which\n has seen small-scale artisanal production for over 30 years. Recent\n gold discoveries in Colombia, including Anglogold Ashanti's La Colossa\n gold porphyry, have highlighted the world-class potential of the\n country.\n\n\nON BEHALF OF THE BOARD\n\n\n     \"Ralph Rushton\"Ralph Rushton, Director\n\n\nNeither the TSX Venture Exchange nor the Investment Industry Regulatory\n Organization of Canada accepts responsibility for the adequacy or\n accuracy of this news release.\n\n\n","length":2300,"tagName":"div"}]

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