VenCan Announces Amendment to Proposed Brokered and Non-Brokered Private Placement

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[{"type":"text","content":"\n\n\n\nTORONTO, July 31 /CNW/ - VenCan Gold Corporation (VCG-TSXV) announces an\namendment to the proposed brokered and non-brokered private placement\nfinancing, as described in the July 24th press release. The financing will\nconsist of the sale of up to 13,000,000 units at a price of $0.05 per unit to\nbe sold on a flow-through basis for gross proceeds of up to $650,000.\n\n\nEach flow-through unit will consist of one common share issued on a\nflow-through basis and one-half of a non-flow-through share purchase warrant\nwith a term of 18 months exercisable at $0.12 per share.\n\n\nAll securities issued in conjunction with the offering are subject to a\nhold period, which expires four months after closing.\n\n\nProceeds of the financing will be used for exploration, property\nacquisition and general working capital.\n\n\nVenCan Gold Corporation's current exploration focus is Ontario where it\nhas three properties - Abitibi West, Moffatt and Mt. Logano. VenCan Gold\nmaintains its website http://www.vencan.com with corporate information,\nreports and images of its exploration projects.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release. This news release\nmay contain forward-looking statements including but not limited to comments\nregarding the timing and content of upcoming work programs, geological\ninterpretations, receipt of property titles, potential mineral recovery\nprocesses, etc. Forward-looking statements address future events and\nconditions and therefore, involve inherent risks and uncertainties. Actual\nresults may differ materially from those currently anticipated in such\nstatements.\n\n\n%SEDAR: 00004007E\n\n\n","length":1781,"tagName":"div"}]

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