SearchGold Completes a $500,000 Financing.
July 14 2008 - 9:00AM
Marketwired
MONTREAL, QUEBEC (FRANKFURT: S1O) is pleased to announce the
closing of a non-brokered financing for an amount of $500,000. The
Corporation will issue 500 units, each unit including 10,000 common
shares of the Corporation at a price of $0.10 per share and 10,000
common share purchase warrants of the Corporation. Each Warrant
entitles its holder to purchase one common share of the Corporation
at the purchase price of $0.15 per common share at any time before
July 11, 2009. These new shares are subject to a 4-month minimum
hold period. 2 officers participated to this financing.
In connection with this financing, a 9 % cash finder's fee will
be paid out to the following participants. The Corporation will
also grant the following participants, finder's warrants to acquire
the number of units equal to 10 % of the units subscribed for by
the participant's investors. Each finder's warrant shall be
exercisable into 1 unit at a price of $0.10 per unit valid until
July 11, 2009.
----------------------------------------------------
Participants Finder's Fee Finder's
Warrants
----------------------------------------------------
Lightyear Capital Inc. $13,500.00 150,000
----------------------------------------------------
Jennings Capital Inc. $10,620.00 118,000
----------------------------------------------------
Wolverton Securities Ltd. $9 450.00 105,000
----------------------------------------------------
Loeb Aron & Company Ltd. (UK) $2,250.00 25,000
----------------------------------------------------
Brant Securities Ltd. $1,800.00 20,000
----------------------------------------------------
Research Capital Corporation $1 350.00 15,000
----------------------------------------------------
Union Securities Ltd. $900.00 10,000
----------------------------------------------------
This financing is subject to the approval of the TSX Venture
Exchange.
About SearchGold Resources Inc.
SearchGold Resources is a Canadian-based mining exploration
company whose primary mission is to target, explore and develop
gold deposits in Africa. The expansion strategy executed in 2006
has set the stage for the Company's development in 2007 through
increased activity on the advanced projects, a new acquisition and
the segmentation of its activities to unlock value for its
shareholders. SearchGold's diamond assets were re-organized along
with Mano River Resources Inc., to create an integrated diamond
company called Stellar Diamonds Limited of which SearchGold holds
2.7 million shares. SearchGold's Canadian gold assets were also
re-organized through the creation of Golden Share Mining
Corporation (GSH-TSXV), a dynamic junior exploration company
focused on gold exploration in Canada.
If you would like to receive press releases via e-mail please
contact: info@searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SearchGold Resources Inc. Philippe Giaro CEO
32-473-52-30-29 phgiaro@skynet.be SearchGold Resources Inc. Denis
Tremblay Vice-President 514-866-4224 info@searchgold.ca
http://www.searchgold.ca CHF Investor Relations Alison Tullis Sr
Account Manager 416-868-1079 x233 alison@chfir.com
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