Cortez Gold Corp. Closes Tranche 1 of Private Placement
08.01.2014 | vom Unternehmen
Vancouver, British Columbia -- Further to its previous news releases (see November 13 and December 19, 2013, and January 2, 2014) Cortez Gold Corp (TSXV:CUT) ("Cortez" or the "Company") announced today that it has closed Tranche 1 of its non-brokered private placement with the issuance of 3,512,500 Units (the "Units") priced at $0.20 per Unit, for gross proceeds of $702,500.Each Unit consists of one common share of the Company and one-half of one share purchase warrant (a "Warrant") with each whole Warrant entitling the holder thereof to acquire an additional common share of the Company for a period of two years at a price of $0.40 per share. The Company may choose to accelerate the expiry date of the Warrants if the Company's shares on the TSX Venture Exchange close at a minimum of $0.60 for a period of 20 consecutive trading days.
An aggregate of $45,000 was paid as finders' fees with regard to a portion of this private placement attributable to the finders' efforts. No securities were issued as finders' fees.
All securities issued are subject to a hold period of four months in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.
ON BEHALF OF THE BOARD of Cortez Gold Corp.
(sgd.) "Robert Eadie" Robert Eadie, President
Neither the 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.
For further information please contact:
Cortez Gold Corp
Robert Eadie, President
Suite 750, 580 Hornby Street, Box 113
Vancouver, British Columbia V6C 3B6
Tel: (604) 602-4935 • Fax: (604) 602-4936