Manado Recieves Discloses Details of Placement Offering
Vancouver, BC / TheNewswire /April 7, 2015 - Manado Gold Corp. (TSX-V: MDO) (the "Company") is pleased to provide additional details of the Company's previously announced private placement offering (the "Offering") (see news release dated March 27, 2015).
The Offering of securities pursuant to BC Instrument 45-534 - Exemption from prospectus requirement from certain trades to existing security holders ("BCI 45-534") is being made to existing security holders who held shares of the Company on April 6, 2015 (the "Record Date").
The Offering will consist of a minimum of 21,000,000 units up to a maximum of 26,274,700 units (the "Units") at a price of $0.01 per Unit for minimum gross proceeds of $210,000 and up to maximum gross proceeds of $262,747 (the "Offering"). Each Unit will continue to be comprised of one common share of the Company and one common share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional common share at $0.05 per share for a period of three years from the date of the issue.
The Company plans to use the gross proceeds of the Offering as follows:
| Minimum Gross Proceeds ($) | Maximum Gross Proceeds ($) | |
| TSX Listing Fees | 5,460 | 5,460 |
| Mineral Exploration | 117,000 | 117,000 |
| Accounts Payable | 76,974 | 76,974 |
| Unallocated Financing Proceeds | 10,566 | 59,813 |
| Total | 210,000 | 262,474 |
For additional details regarding use of proceeds, see the Company's press release dated March 27, 2015.
In the event that the Company receives subscriptions above the maximum, the Company will adjust the subscriptions received on a pro-rata basis.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
Logan Anderson
President
For further information, please contact:
Logan Anderson or Dave Ryan
Phone: (604) 685-4745
Email: info@manadogold.com
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things, risks and uncertainties relating to the fact that there is assurance that, the TSX Venture Exchange will approve the Company's discretionary waiver application or that any or all of the private placement will be completed. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
Neither 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.
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