Business
Q-GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING
Q-GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING
About this update from Q-gold Resources Ltd
[{"type":"text","content":"\n\n\n\n Sep. 3, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n\nSEC 12g 3-2(b) Exemption No. 82-4931\n\nFORT FRANCES, ON, Sept. 3 /CNW/ - Q-Gold Resources Ltd. (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that it has completed its previously announced non-brokered private placement for aggregate gross proceeds of $720,000 (the "Offering"). The Offering was fully-subscribed for and was closed in two tranches, with the first tranche closing on August 31, 2010 and the second tranche closing on September 2, 2010.\nPursuant to the closing of the Offering the Corporation issued the following:\n\n\n >\n\n\nEach Flow-Through Unit consists of one common share issued on a "flow-through" basis under the Income Tax Act (Canada) and one common share purchase warrant (the "Flow-Through Warrant"), entitling the holder to acquire one additional common share issued on a "flow-through" basis at an exercise price of $0.10 for a period of 24 months from issuance.\nEach Non-Flow-Through Unit consists of one common share and one common share purchase warrant (the "Non-Flow-Through Warrant"), entitling the holder to acquire one additional common share at an exercise price of $0.10 for a period of 24 months from issuance.\nIn connection with the closing of the Offering, the Corporation paid a cash finder's fee of $47,700 to Canaccord Genuity Corp., and issued them 596,250 finder's fee warrants ("Finder's Warrants"). Each Finder's Warrant entitles the holder to acquire one Unit (a "Finder's Unit") at an exercise price of $0.10 for a period of 24 months from issuance. The Finder's Unit issuable upon exercise of the Finder's Warrant is composed of one common share of the Corporation.\nAll securities issued in connection with the Offering will be subject to a f...