Trading Symbol: TSX-V:RGZ
TORONTO, May 25 /CNW/ - Randsburg International Gold Corporation (TSX-V:RGZ) announced today that it has agreed to a non-brokered private placement of its securities consisting of the sale of 1,800,000 units at $0.55 per unit.
Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company for $0.75 for a two-year period from closing. The terms of the warrants provide that, in the event that the shares of the Company close at $1.25 or more for 10 consecutive trading days, the Company can provide notice to the Warrant holders that they must exercise their warrants. In the event that the Company provides this notice, warrant holders will have 10 business days to exercise their warrants or the warrants will be cancelled.
Finders fees may be paid on a portion of this placement, which is subject to acceptance for filing by the TSX Venture Exchange. The net proceeds of this placement will be used to advance exploration on the Company's Titan and Victory Strike area projects and for general working capital purposes.
On behalf of the Board of Directors of
Randsburg International Gold Corp.
"Michael Opara"
President and Chief Executive Officer
Tel: 416-486-4078
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Copyright, 2007 Randsburg International Gold Corporation. This news
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