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Newton Gold Closes Second Tranche of Private Placement
Newton Gold Closes Second Tranche of Private Placement Vancouver, British Columbia CANADA, Sep...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\nNewton Gold Closes Second Tranche of Private Placement\n\nNewton Gold Closes Second Tranche of Private Placement\nVancouver, British Columbia CANADA, September 14, 2011 /FSC/ - Newton Gold Corp.  (NWG - TSX Venture), Mark McLeary, President and CEO, Newton Gold Corp. (TSX Venture: NWG, the \"Company\") reports that the Company has closed on the second tranche of the private placement announced on July 6, 2011, and has issued 880,000 Flow-Through Units (\"FT Units\") and 525,000 Non-Flow-Through Units (\"NFT Units\"). The Company has received gross proceeds of $325,000, which will be applied to qualifying exploration expenses on the Newton joint-venture.\nThe Company will proceed with the sale of the balance of the 1,920,000 FT Units at a price of $0.25 per FT Unit, and 1,975,000 Non-Flow-Through Units (\"NFT Units\") at a Price of $0.20 per NFT Unit.  \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\").  \nThe Company paid Leede Financial Markets Inc. and Wolverton Securities Ltd. an 8% finder's fee and issued 8,400 finder's warrants on a portion of the amount included in the second tranche. 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 diversification and sound financial management.\nON BEHALF OF THE BOARD OF DIRECTORS \n\"Mark McLeary\"\n...