Lexam hat zugeschlagen ...
Essenz:
1. VG Gold hat ca. 8 Mio Cash (schuldenfrei)
2. LEXAM besitzt 42% (75 Mio. Aktien) an VG Gold (unverwässert)
Laufende und weitere Bohrungen werden daraus finanziert werden.
NEWS RELEASE
VG GOLD CORP. * NEWS RELEASE * Shares: 177,654,764
EARLY EXERCISE OF WARRANTS BY LEXAM CASHES UP VG GOLD
FOR IMMEDIATE RELEASE, October 21, 2009, Toronto, Ontario.
VG Gold Corp. (TSX: VG, FRANKFURT: VN3) ("VG Gold" or the "Company") is pleased to announce that on October 20, 2009 Lexam Explorations Inc. made an early exercise of all its warrants and purchased 37,500,000 common shares of VG Gold for gross proceeds of $5,625,000.
The exercise price of the warrants was $0.15 per share.
The warrants were acquired pursuant to a private placement in two tranches, through which Lexam acquired 37,500,000 units, each unit consisting of one common share and one warrant of VG Gold. The acquisition of the units was pursuant to an agreement disclosed in Lexam's Early Warning Reports dated July 23, 2009 and September 2, 2009.
Immediately prior to giving effect to exercise of the warrants, Lexam held 37,500,000 common shares or approximately 27% of the issued and outstanding common shares in VG Gold on a non-diluted basis. After giving effect to the exercise of the warrants, Lexam will hold 75,000,000 common shares or approximately 42% of the issued and outstanding common shares in VG Gold on a non-diluted basis.
After exercising the warrants, VG Gold will have approximately $8.0 million in cash with no debt. VG Gold plans to use the proceeds to explore its gold projects in Timmins, Ontario. The Company is now fully funded and anticipates having two drills working continuously over the next twelve months.
VG Gold is exploring and developing four gold projects in Timmins, Ontario, Canada. The Company is currently carrying out exploration drilling of the Paymaster West Porphyry deposit, situated immediately east of the Dome Mine.
To find out more about VG Gold Corp. (TSX: VG), visit our website at www.vggoldcorp.com
For further information contact Tom Meredith, President of VG Gold Corp,
416 368 0099 x 4100.
Website: www.vggoldcorp.com
Wir leben alle unter dem gleichen Himmel, aber wir haben nicht alle den gleichen Horizont.
Zurück
