Vancouver, British Columbia / TheNewswire / August 15th, 2016. Candente Gold Corp. (TSXV:CDG) (“Company”) is pleased to announce that the non-brokered private placement (“Private Placement”) launched on July 11th, 2016 (News Releases No. 056 and 057) was closed on August 12, 2016 raising total proceeds of $500,000.
The Private Placement, as stated previously, comprised of the sale of 10,000,000 units (“Units”) at a price of $0.05 under terms as outlined in News Releases No. 056 and 057. Each Unit will consist of one common share of the Company and one half-share purchase warrant (“Warrant”). Each full warrant will be exercisable for one additional share of the Company’s common stock for two years at a conversion price of $0.10, subject to an acceleration provision triggered if at any time after November 30th, 2016, the Company’s common shares have a closing price on the TSX Venture Exchange at or above a price of $0.20 per share for a period of 10 consecutive trading days. A total of 5,000,000 Warrants were issued pursuant to the Private Placement as part of the Units.