Levon Resources Ltd. Increases Size of Bought Deal Financing to $40 Million
April 11 2011 - 10:32AM
PR Newswire (Canada)
VANCOUVER, April 11 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED STATES
NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 11 /CNW/ - Levon Resources Ltd. (TSX-V:LVN, the
"Company") is pleased to announce that it has amended the terms of
its previously announced bought deal financing to increase the size
of the offering from CAD$30,030,000 to $40,170,000. The Company has
entered into an amended agreement with a syndicate of underwriters
led by Canaccord Genuity Corp. and including Jennings Capital Inc.
and Macquarie Capital Markets Canada Inc. (the "Underwriters")
whereby the underwriters have agreed to purchase on a bought deal
basis, pursuant to a short form prospectus, 20,600,000 common
shares of the Company at a price of CAD$1.95. In addition,
the Company will grant the Underwriters an over-allotment option,
exercisable for a period of up to 30 days after the closing of the
offering, to purchase from the Company up to an additional
3,090,000 common shares at CAD$1.95 per share to cover
over-allotments. In all other respects the Offering remains the
same as previously announced on April 11, 2011. Closing of the
Offering is anticipated to occur on or before May 10, 2011 and is
subject to certain conditions including, but not limited to the
receipt of applicable regulatory approvals including approval of
the TSX Venture Exchange. This news release does not constitute an
offer to sell or a solicitation of an offer to buy nor shall there
be any sale of any of the Common Shares in any jurisdiction in
which such offer, solicitation or sale would be unlawful. The
Common Shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United States or to, or for the benefit
of, U.S. persons (as defined in Regulation S under the U.S.
Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption from
such registration requirements. About Levon Resources Ltd.: Levon
is a junior gold and precious metals exploration company exploring
the Cordero silver, gold, zinc and lead project near Hidalgo Del
Parral, Chihuahua, Mexico. The Norma Sass and Ruf claims located
near the Pipeline gold deposit, which is being mined and explored
by Barrick Gold Corporation in the heart of the Cortez Gold Trend
in Lander County, Nevada, USA. The Company also holds key land
positions at Congress, BRX, and Wayside in the productive Bralorne
Gold camp of British Columbia, Canada. LEVON RESOURCES LTD. "Ron
Tremblay" ______________________________ Ron Tremblay President and
CEO This release contains statements that are forward-looking
statements and are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein
represents management's best judgment as of the date hereof based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement. NEITHER THE TSX
VENTURE EXCHANGE NOR ITS REGULATORY AUTHORITY ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE To
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URL:
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p Levon Resources Ltd. at (604) 682-3701, or log onto our
website a href="http://www.levon.com"www.levon.com/a /p
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