Intigold Mines Ltd.: Investor Relations Agreement, Private Placement, Incentive Stock Options
Vancouver, March 7, 2016 - Intigold Mines Ltd. (IGD - TSX-V) (OTC:IDMNF,) announces that it has retained Mid Atlantic Capital Associates SL ("Mid Atlantic") to provide investor relations services. Intigold Mines Ltd. ("Intigold" or the "Company") has entered into a Consulting Agreement (the "Agreement") with Mid Atlantic whereby Mid Atlantic will provide investor relations and investor awareness services to the Company.
Under the terms of the Agreement, the Company will pay a monthly fee of $7,500 to Mid Atlantic. The Company has also granted incentive stock options to Mid Atlantic to purchase 200,000 shares in the capital of the Company for a period of two years at a price of $0.10. The options will vest in stages over a period of not less than 12 months with no more than 1/4 of the options vesting in any three month period. The Agreement is subject to acceptance for filing by the TSX Venture Exchange.
Financing
Intigold has negotiated a non-brokered private placement of up to 10,000,000 units at a price of $0.10 per unit, raising gross proceeds of up to $1,000,000. Each unit will consist of one common share and one-half of a share purchase warrant. Each whole Warrant will entitle the holder to purchase one additional common share at a price of $0.15 per share for a period of two years from closing. The proceeds of the private placement will be used for Intigold's projects and for working capital. The private placement is subject to regulatory approval.
The Company will pay finder's fees of up to 7.5% of the gross proceeds raised, payable in cash or units, or a combination thereof.
Incentive Stock Options
The Company has granted incentive stock options to certain of the Company's directors, officers, employees and consultants to purchase up to 1,200,000 common shares under the Company's Stock Option Plan. The options will be granted for a period of two years, commencing on
March 7, 2016, at a price of $0.10 per share.
For information on Intigold and its projects, please visit us at www.intigold.com or call 604-669-4677 or toll free at 1-888-895-5522.
INTIGOLD MINES LTD.
(signed "Lori McClenahan")
Lori McClenahan,
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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