Z-Gold Closes a Non-Brokered Private Placement of $120,000
August 13 2010 - 10:21AM
Marketwired
Z-GOLD EXPLORATION INC. ("Z-Gold" or the "Company") (TSX VENTURE:
ZGG) is pleased to announce the closing of a non-brokered private
placement of $120,000 through the sale of 666,666 flow-through
units at a price of $0.18 each to the MineralFields Group.
Each flow-through unit consists of one flow-through share and
one-half of one non-flow-through common share purchase warrant,
each warrant giving the right to buy one common share at a price of
$0.26 per share for a period of 24 months.
With respect to this investment, Limited Market Dealer Inc.
obtained a finder's fee of 5% in cash and a two-year option to
purchase 66,666 units of the Company, on the same terms and
conditions as the flow-through units described above, but not on a
flow-through basis.
All of the securities issued pursuant to this offering have a
hold period expiring December 12, 2010.
The proceeds from this issue will be used for exploration work
on the Company's properties located in the Province of Quebec.
"Z-Gold is very pleased to continue the relationship with
MineralFields Group", said Rodrigue Tremblay, President and CEO.
"We look forward to working again with MineralFields Group as we
develop our holdings in the Abitibi Greenstone Belt in Quebec and
in Ontario."
About MineralFields Group, Pathway and First Canadian
Securities®
MineralFields Group (a division of Pathway Asset Management),
based in Toronto and Vancouver, is a mining fund with significant
assets under administration that offers its tax-advantaged super
flow-through limited partnerships to investors throughout Canada,
as well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in
the manufacturing and distribution of structured products and
mutual funds (including the Pathway Multi Series Funds Inc.
corporate-class mutual fund series). Information about
MineralFields Group is available at www.mineralfields.com. First
Canadian Securities® is active in leading resource financings (both
flow-through and hard dollar PIPE financings) on competitive,
effective and service-friendly terms, and offers investment
banking, mergers and acquisitions, and mining industry consulting,
services to resource companies. MineralFields and Pathway have
financed several hundred mining and oil and gas exploration
companies to date through First Canadian Securities®.
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 and base metals in the Abitibi Greenstone Belt,
in Ontario and in Quebec.
Z-Gold has as its flagship property the Abitibi Gold Property
located in Munro Township in the famous Timmins mining camp. There
are many surface gold showings that require investigation by ground
geophysical surveys and followed up by a diamond drilling program.
A recent airborne survey has successfully outlined many EM and
magnetic structural features. A geophysical feature similar to the
Croesus mine has been identified. The Abitibi Gold 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 (FAX)
zgoldexploration@gmail.com