Business
Newton Gold Completes First Tranche
Jul. 21, 2011 (Filing Services Canada) -- Newton Gold Corp.  (NWG - TSX Venture) Mar...
About this update from Cullinan Metals Corp
[{"type":"text","content":"\nNewton Gold Completes First Tranche\n\n Jul. 21, 2011 (Filing Services Canada) -- 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 first tranche of the private placement announced on July 6, 2011, and has issued 3,200,000 Flow-Through Units (\"FT Units\") to the MineralFields Group.  The Company has received gross proceeds of $800,000, which will be applied to qualifying exploration expenses on the Newton joint-venture.  The Company is proceeding with the sale of the balance of the 2,800,000 FT Units at a price of $0.25 per FT Unit, and 2,500,000 Non-Flow-Through Units (\"NFT Units\") at a Price of $0.20 per NFT Unit.  Each 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 Company paid Limited Market Dealer Inc. a 6% finder's fee, a 2% due diligence fee (both in cash) and issued 256,000 finders options in connection with closing the first tranche. Each finder's option entitles the holder to purchase (exercisable for two years at a price of $0.25 per finders option) one non-flow-through common share and Warrant. Mark McLeary stated that \"We are very pleased to be entering into this relationship with MineralFields Group\".  \"This is an important milestone in the growth of the Company and we look forward to working with MineralFields Group as we develop our Canadian mineral properties.\"For investor inquiries, contact:Mark McLearyPresident & CEONewton Gold Corp. 604-678-2531   Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward Looking and other Cautionary...