(via Thenewswire.ca)
King's Bay Gold Corporation (TSX.V: KBG) announces a clarification of its previous press release of April 16th, 2010 concerning the closing of a non-brokered private placement offering of Class "A" Units and Class "B" Units. The press release of April 16th, 2010 incorrectly stated that a total of 70,000 Class "A" Units and 8,820,000 Class "B" Units were purchased by subscribers resident in British Columbia, Manitoba and Ontario, at a purchase price of $0.07 per Class "A" Unit and a price of $0.05 per Class "B" Unit, for gross subscription proceeds of $448,500.00. In fact, a total of 140,000 Class "A" Units and 8,845,000 Class "B" Units were purchased by subscribers resident in British Columbia, Manitoba and Ontario, at the same purchase price of $0.07 per Class "A" Unit and a price of $0.05 per Class "B" Unit, for gross subscription proceeds of $452,050.00. All of the remaining terms of the private placement financing announced in the press release of April 16th, 2010 are unchanged.
About King's Bay Gold
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: 90,031,913
King's Bay Gold Corporation
Kyle Picard
President CEO and Corporate Secretary
(204) 253-4653
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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