(via Thenewswire.ca)
King's Bay Gold Corporation (TSX.V: KBG) (the "Issuer") announces an amendment to the non-brokered private placement financing to close on or about December 20th, 2011, as previously described in its previous press release of November 14th, 2011.
The November 14th, 2011 press release indicated that the Issuer may, at its discretion, offer a 8% finder's fee to registered dealers for services rendered in introducing certain subscribers to the offering (each, a "Finder"). The Issuer is amending the terms of the compensation offered to Finders. In addition to the aforementioned finder's fee, the Issuer may also issue finders warrants equivalent to 8% of the number of Class A and Class B units subscribed for through this non-brokered private placement offering (the "Finders Warrants").
Each Finders Warrant shall entitle the holder to purchase one Common Share for an exercise price of $0.10 for a period of 24 months following the date of issuance. Each Finder shall be entitled to Finders Warrants equivalent to 8% of the number of Class A and Class B units sold to subscribers introduced to the Offering by the Finder. All other matters noted in the press release of November 14th, 2011 remain the same.
About King's Bay Gold Corporation
King's Bay Gold Corporation is a very active Canadian mineral exploration and development company with mineral projects located in two of Canada's main gold camps - the Red Lake, ON and Rainy River, ON gold camps.
KBG Shares Outstanding: 90,241,913
King's Bay Gold Corporation
Kyle Picard
President & CEO and Corporate Secretary
1-(204)-451-1200
info@kingsbaygold.com
www.kingsbaygold.com
This news release includes certain forward-looking statements concerning the future performance of King's Bay Gold Corporation's business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking statements and readers are cautioned against placing undue reliance thereon.
Neither 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.
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