Candente Gold Completes Financing Raising $500,000

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[{"type":"text","content":"Candente Gold Completes Financing Raising $500,000(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TheNewswire / August 15th, 2016. Candente Gold Corp. (TSXV:CDG) (\"Company\") is pleased to announce that the non-brokered private placement (\"Private Placement\") launched on July 11th, 2016 (News Releases No. 056 and 057) was closed on August 12, 2016 raising total proceeds of $500,000. \n\n\n \nThe Private Placement, as stated previously, comprised of the sale of 10,000,000 units (\"Units\") at a price of $0.05 under terms as outlined in News Releases No. 056 and 057. Each Unit will consist of one common share of the Company (a \"Unit Share\") and one half-share purchase warrant (a \"Warrant\"). Each full warrant will be exercisable for one additional share of the Company's common stock (a \"Warrant Share\") for two years at a conversion price of $0.10, subject to an acceleration provision triggered if at any time after November 30th, 2016, the Company's common shares have a closing price on the TSX Venture Exchange at or above a price of Cdn$0.20 per share for a period of 10 consecutive trading days. A total of 5,000,000 Warrants were issued pursuant to the Private Placement as part of the Units. \n\n \n \nJoanne Freeze, President, CEO and director of the Company, and Paul H. Barry, Chairman of the Board and director of the Company collectively subscribed for 915,000 units, 9.15% of Units sold pursuant to the Private Placement, which in total value would represent less than 25% of Candente Gold's market capitalization. \n\n\n \nThe Company has relied upon exemptions from the valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.\n\n \n \nFinders Fees totalling $20,130.00 were paid with respect to the Private Placement.\n\n \n \nApproximately $250,000 of the gross proceeds of the Private Placement are to be used to further define drill targets on the El Oro gold-silver project and approximately $250,000 will be used for working capital and general corporate purposes.\n\n \n \n\n\n\n \nAbout Candente Gold\n\n \n \nCandente Gold's flagship asset is El Oro, a district scale gold project encompassing a well known prolific high grade gold dominant silver epithermal vein system in ...

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