Z-Gold Exploration Inc. (TSX-V: ZGG) Announces Completion of a $110,000 Financing
April 14 2010 - 10:03AM
Marketwired
Z-Gold Exploration Inc. ("Z-Gold" or the "Corporation") (TSX
VENTURE: ZGG) is pleased to announce that it has completed a second
round of financing by way of private placement, the first round of
which was previously announced in a press release dated March 15,
2010.
Pursuant to a non-brokered private placement, the Corporation
issued a total of 550,000 units (each a "Unit" and collectively the
"Units") at a price of $0.20 per Unit for total proceeds of
$110,000. Each Unit is comprised of one common share and one-half
of one common share purchase warrant (each a "Warrant" and
collectively the "Warrants"), each Warrant entitling the holder to
subscribe one common share at a price of $0.26 per share for a
period of 24 months following the closing of the private
placement.
Pursuant to the two rounds of the private placement, the
Corporation has issued an aggregate number of 2,445,000 Units, for
a total of 2,445,000 common shares and 1,222,500 Warrants and for
gross proceeds of $489,000. All securities comprised in the Units
issued pursuant to the private placement are subject to a four
months hold period.
About Z-Gold Exploration Inc.
The head office of Z-Gold is located at 15, rue Gamble East,
Suite 204, Rouyn-Noranda, QC J9X 3B6. Z-Gold Exploration Inc. is
exploring for gold in the Abitibi Greenstone Belt.
Z-Gold has acquired the Munro Gold property located in the
famous Timmins mining camp. Many gold showings need to be
investigated by geophysical surveys and diamond drilling program.
An airborne survey covered the property and successfully outlined
many structural features. The Munro Property consists of five
mining leases containing 85 claims (91 units) located approximately
86 kilometres east northeast of the city of Timmins in the Larder
Lake Mining Division, Ontario.
Z-Gold Exploration Inc. is a publicly listed company trading on
the TSX Venture (ZGG).
This press release was prepared by Z-Gold Exploration Inc..
Neither the TSX Venture Exchange Inc nor its Regulation Services
Provider (as that term is defined in the Policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
This document may contain forward-looking statements relating to
Z-Gold's operations or to the environment in which it operates.
Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict and
may be beyond Z-Gold's control. A number of important factors could
cause actual outcomes and results to differ materially from those
expressed in forward-looking statements, including those set forth
in other public filling. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should
not placed on such forward-looking statements. Z-Gold disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, save and except as may be required by applicable
securities laws.
Contacts: Z-Gold Exploration Inc. Rodrigue Tremblay President
and CEO 800-388-8668 / 819-797-8668 zgoldexploration@gmail.com