La Ronge Completes $1.0 Million Brokered Private Placement
May 30 2014 - 9:30AM
Marketwired
La Ronge Completes $1.0 Million Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) - La
Ronge Gold Corp. ("La Ronge" or the "Company") (TSX-VENTURE:LAR) is
pleased to announce that it has completed the first of its
two-tranche brokered private placement. The first tranche consists
of 4,000,000 common shares at a price of $0.25 per common share to
raise gross proceeds of $1,000,000. The company is progressing
efforts on the $6,000,000 subscription receipt raise.
Insider participation of Rasool Mohammad for 450,000 shares.
The Company has issued to the Underwriters 234,500 of
non-transferable Common Share purchase warrants ("Broker Warrants")
and $58,625 in cash commission. Each Broker Warrant will entitle
the holder thereof to acquire one Common Share at an exercise price
of $0.25 per share for a period of 24 months following closing of
the Offering.
All securities issued or issuable under the Offering are subject
to a four-month hold period expiring on September 30, 2014, in
addition to such other restrictions as may apply under applicable
securities laws in jurisdictions outside of Canada.
About La Ronge Gold Corp.
La Ronge is actively engaged in diversifying its mining assets
portfolio into sectors other than precious metals. The intent of
this strategy is to identify and acquire strategic investments that
have the capability to generate cash flow with low capital
expenditure costs. This mining asset diversification strategy is
limited geographically to Canada at the present time. La Ronge is a
Vancouver-based resource growth and development company. The
Company owns high-grade gold deposits in one of Canada's emerging
gold producing regions, the La Ronge Gold Belt, northern
Saskatchewan. La Ronge also holds other gold projects located in
Ontario and Saskatchewan.
For more information about La Ronge Gold Corp., please go to
www.larongegold.com.
Cameron Bartsch, M.Sc., P.Geo., of Tetra Tech EBA, a Qualified
Person as defined by National Instrument 43-101, has reviewed the
scientific and technical information disclosed in this News Release
and has approved its dissemination.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this Release.
FORWARD-LOOKING
INFORMATION
This News Release includes forward-looking information and
statements, which may include, but are not limited to, information
and statements regarding or inferring the future business,
operations, financial performance, prospects, and other plans,
intentions, expectations, estimates, and beliefs of the Company.
Information and statements which are not purely historical fact are
forward-looking statements. Forward-looking information and
statements involve and are subject to assumptions and known and
unknown risks, uncertainties, and other factors which may cause
actual events, results, performance, or achievements of the Company
to be materially different from future events, results,
performance, and achievements expressed or implied by
forward-looking information and statements herein. Although the
Company believes that any forward-looking information and
statements herein are reasonable, in light of the use of
assumptions and the significant risks and uncertainties inherent in
such information and statements, there can be no assurance that any
such forward-looking information and statements will prove to be
accurate, and accordingly readers are advised to rely on their own
evaluation of such risks and uncertainties and should not place
undue reliance upon such forward-looking information and
statements. Any forward-looking information and statements herein
are made as of the date hereof, and except as required by
applicable laws, the Company assumes no obligation and disclaims
any intention to update or revise any forward-looking information
and statements herein or to update the reasons that actual events
or results could or do differ from those projected in any
forward-looking information and statements herein, whether as a
result of new information, future events or results, or otherwise,
except as required by applicable laws.
La Ronge Gold Corp.Rasool Mohammad, B.Sc. (Mining)President
& CEO604 639-4533604 685-3765www.larongegold.com