De Beira Goldfields Inc.: Capital Raising Announced
DE BEIRA GOLDFIELDS INC. (OTCBB: DBGFE)(FWB: D1Q)(WKN: A0JDS0): De Beira Goldfields Inc. is pleased to announce that plans to raise US$2.5 million in new funds have been finalized.
An offer of 1,250,000 new common shares at an issue price of $2 each is in the process of being completed. A free attaching warrant will be issued with each new share, exercisable at $2.50, with an expiry date of 31 August 2008.
The funds will be used for working capital and, in particular, exploration expenditure (including drilling) on the Colombian Titiribi copper/gold project and the Minanca project in Ecuador. Some funds will also be used to implement operational efficiencies and upgrades in the gold mining division at Minanca.
DE BEIRA GOLDFIELDS INC.
Reg Gillard, President