|Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) announces that, subject to the approval of the TSX Venture Exchange, it proposes to undertake a non-brokered private placement of units (the “Units”) at a price of 8 cents ($0.08) per Unit for gross proceeds of up to $200,000. Each Unit shall be comprised of one common share in the capital of the Company and one common share purchase warrant.
Each warrant shall entitle the holder to purchase one common share at a price of 10 cents ($0.10) per share at any time within 12 months of the date of issuance. All securities to be issued under this private placement will be subject to a four-month resale restriction.
The company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. Advance Gold will use the net proceeds of this private placement for general corporate purposes and to advance our Tabasquena silver project in Zacatecas, Mexico.