Business
Kings Bay Gold Announces Closing of Private Placement
King's Bay Gold Corporation (TSX.V: KBG) is pleased to announce the closing of a non-brokered pri...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"Kings Bay Gold Announces Closing of Private Placement\n\n\nKing's Bay Gold Corporation (TSX.V: KBG) is pleased to announce the closing of a non-brokered private placement on February 29, 2008. A total of 1,363,000 Units were purchased by subscribers resident in British Columbia, Ontario and Manitoba, at a purchase price of $0.25 per Unit, for gross subscription proceeds of $340,750.00. A finder's fee equal to $1,000.00 was paid to Wellington West Capital Inc. for its services in introducing certain subscribers to the offering.\n\nEach Unit consisted of one Class \"A\" common share of the Issuer (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share of the Issuer at an exercise price of $0.30 per Warrant for a period of twenty four months following the date of issuance.\n\nKing's Bay Gold Corporation intends to utilize the proceeds from this non-brokered private placement for the general working capital purposes and for maintenance of property claims.\n\nAbout King's Bay Gold\n\nKing's Bay Gold is unique in the industry in that it owns most of the equipment required to carry out the various phases of exploration. This includes diamond drills, bulldozers and other exploration equipment, which gives the company the ability to quickly adjust work programs as exploration results are realized and company strategies change. The Corporation is a very active and well financed Canadian mineral exploration company with nine mineral projects strategically located in Canada's gold camps. Strategic properties include - (i) a property located directly adjacent to Canada's richest gold mine, (ii) a past producing gold mine with brand new rare metals, rare earths and high-grade gold discoveries, and (iii) other locations that are in very close proximity to either past producers and / or recent discoveries.\n\nKing's Bay Gold Corporation Richard Rivet President & CEO (204) 253-4653 Email: [email protected]\n\nwww.kingsbaygold.com\n\nThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe KBG's future plans, objectives or goals, including words to the effect ...