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Newton Gold Closes Private Placement for Gross Proceeds of $1,656,400
Newton Gold Closes Private Placement for Gross Proceeds of $1,656,400 Vancouver, British Colum...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\nNewton Gold Closes Private Placement for Gross Proceeds of $1,656,400\n\nNewton Gold Closes Private Placement for Gross Proceeds of $1,656,400\nVancouver, British Columbia CANADA, November 25, 2011 /FSC/ - Newton Gold Corp.  (NWG - TSX Venture), (the \"Company\") is pleased to announce, subject to receipt of final TSX Venture Exchange acceptance, that it has closed its non-brokered private placement that was originally announced on July 6, 2011.\nThe Company has completed the fourth and final tranche of the private placement and issued 240,000 Flow-Through Units (\"FT Units\") and 500,000 Non-Flow-Through Units (\"NFT Units\"), receiving gross proceeds of CDN$160,000 which will be applied to qualifying exploration expenses and general working capital. No finder's fees were paid during the fourth tranche.\nSince July 2011, the Company raised a total of CDN$1,656,400 in gross proceeds and issued a total of 4,793,600 flow-through units and 2,290,000 non-flow-through units. A total of CDN$86,112 in finder's fees and 291,488 finder's warrants have been issued to certain persons and institutions who assisted in the placement of subscribers to the offering.\nEach FT Unit consists of one \"flow-through\" common share and one non-flow-through warrant entitling the holder to purchase an additional common share for a period of two years at a price of $0.40 share during the first year and $0.50 per share during the second year (a \"Warrant\").  Each NFT Unit consists of one non-flow-through common share and one non-flow-through warrant entitling the holder to purchase an additional common share for a period of two years at a price of $0.30 share during the first year and $0.40 per share during the second year (a NFT Warrant\").  The terms of each finder's warrant are the same as those of the financing.\nAbout Newton Gold Corp.\nNewton Gold Corp. is a British Columbia focused exploration company with two advanced exploration projects.  The Company has an experienced management team with a growth strategy to develop a diversified portfolio of mining projects that can be taken into production. The company's main objective is to add shareholder value through efficient exploration, strategic acquisitions and joint ventures, and effective marketing while maintaining a lower risk profile through project di...