Stakeholder Gold Corp. Closes Private Placement and Receives Drilling Quotes
Toronto, Ontario--(Newsfile Corp. - July 11, 2014) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce closing of a non-brokered private placement totaling $723,698 dollars. The private placement consists of $469,500 of flow through financing (issuance of 1,878,000 units priced at $0.25 with a two year half warrant priced at $0.35) and $254,198 of hard dollar financing (issuance of 1,270,990 units priced at $0.20 with a two year half warrant priced at $0.30) for total gross proceeds of $723,698 dollars.
Two Company directors subscribed for a total of $300,000 dollars (or 41%) of the funds raised, constituting 1,200,000 flow through units. A commission comprised of $560 and 2,240 two year warrants priced at $0.35 was paid to Wolverton Securities Ltd for a portion of this financing. The private placement is subject to TSX-V and Regulatory approvals.
Geochemical grid work continues over the two largest anomalies detected from gravity and follow up VTEM surveys on the Bass River property near Truro, Nova Scotia. A quote for drilling 5,000 meters of NQ core has been received from Maritime Drilling Limited and averages $75/meter or roughly $375,000 total for the proposed 5,000 meter program. Further quotes are being attained to ensure a cost competitive program. Drilling of the identified IOCG prospects is expected to follow as soon as possible upon completion of the geochemical grids and ground based EM surveys, which will be used to refine drill collar locations.
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 more information, please contact
Christopher J. Berlet, CFA
President & CEO
416 525-6869
Email: manager@mineralprices.com