SolidusGold Inc: Announces Closing of Private Placement
VANCOUVER, October 29, 2014 - SolidusGold Inc. ("SolidusGold" or the "Company") (TSX VENTURE:SDC) is pleased to announce that it has completed the non-brokered private placement previously announced on September 25, 2014. The Company issued 780,000 common shares at a price of $0.20 per share, raising gross proceeds of $156,000. The proceeds from the private placement will be used for general working capital.
Steven Khan, Rick Van Nieuwenhuyse, Raj Chowdhry and Ken Collison acquired shares under the private placement. Their participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to them, or the consideration paid, exceeded 25% of the Company's market capitalization. The shares issued in the private placement are subject to a four month hold period that expires on March 1, 2015.
For more information please email info@solidusau.com.
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.
Contact
SolidusGold Inc.
Steven N. Khan,Interim Chief Executive Officer
(604) 628-1162
info@solidusau.com