Marathon Gold Announces Equity Financing
November 13 2011 - 9:53AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ TORONTO, Nov. 14, 2011 /CNW/ -
Marathon Gold Corporation ("Marathon" or the "Company") is pleased
to announce that it has filed a preliminary short form prospectus
in connection with an overnight marketed public offering (the
"Offering") of the Company's common shares ("Common Shares") and
flow-through common shares (the "FT Shares", and together with the
Common Shares the "Underwritten Shares"). The Offering will be
conducted through a syndicate of underwriters led by Canaccord
Genuity Corp. (the "Underwriters"). The Company will also grant the
Underwriters an over-allotment option to purchase up to that number
of additional common shares (the "Over-Allotment Common Shares",
and together with the Common Shares and FT Shares, the "Offered
Securities") equal to 15% of the Underwritten Shares sold pursuant
to the Offering, exercisable at any time up to 30 days after and
including the closing of the Offering at a price equal to the
offering price of the Common Shares. The Offering will be priced in
the context of the market with final terms of the Offering to be
determined at the time of pricing. The Company intends to use the
net proceeds from the Offering for ongoing exploration programs on
the Company's Newfoundland and Idaho gold projects, including a
planned 40,000 m drill program at the Valentine Lake Gold Project
and a 25,000 m drill program at the Golden Chest Project, set to
commence in 2012, and for general corporate and working capital
purposes. The Offering is being made pursuant to a short form
prospectus to be filed in each of the provinces of Canada other
than Quebec. The Offered Securities will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States absent registration or an applicable
exemption from the registration requirements. This press release
does not constitute an offer of securities for sale in the United
States. The securities being offered have not been, nor will be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States
absent U.S. registration or an applicable exemption from U.S.
registration requirements. Any public offering of the securities to
be made in the United States will be made by means of a prospectus
that may be obtained from the Company and that will contain
detailed information about the Company and management, as well as
financial statements. About Marathon Gold Corporation Marathon Gold
Corporation is one of Canada's newest gold resource development
companies, with projects located in the mining friendly province of
Newfoundland and Labrador, and a project in the prolific Coeur
d'Alene Mining District of Idaho. Marathon has a project pipeline
consisting of early stage exploration to advanced resource
development projects. Marathon is continually evaluating new gold
resource development projects of merit that are located within the
Americas. Marathon's focused and low-cost approach to exploration
and resource development has an established record of delivering
rapid growth. For more information visit: www.marathon-gold.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except
for statements of historical fact relating to Marathon Gold,
certain information contained herein constitutes "forward-looking
statements". Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects", "anticipates",
"plans", "believes", "considers", "intends", "targets", or negative
versions thereof and other similar expressions, or future or
conditional verbs such as "may", "will", "should", "would" and
"could". We provide forward-looking statements for the purpose of
conveying information about our current expectations and plans
relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. These risks and uncertainties
include but are not limited to those identified and reported in
Marathon Gold's public filings, which may be accessed at
www.sedar.com. Other than as specifically required by law, we
undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such
statement is made, or to reflect the occurrence of unanticipated
events, whether as a result of new information, future events or
results otherwise. Marathon Gold Corporation CONTACT:
Marathon Gold CorporationPhillip WalfordPresident, CEO and
DirectorTel: 1-(416) 987-0711Email:
pwalford@marathon-gold.comJennie GuayInvestor Relations ManagerTel:
1-416-987-0714Email: jguay@marathon-gold.com
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