Z-Gold Exploration Inc.: Private Placement
June 02 2011 - 4:15PM
Marketwired
Z-Gold Exploration Inc. (TSX VENTURE: ZGG) is pleased to announce
that it has engaged Union Securities Ltd. to act as its agent, on a
commercially reasonable basis, to offer by way of brokered private
placement of up to10,000,000 units ("Units") and/or flow-through
units ("Flow-Through Units") at a price of $0.15 per Unit or
Flow-Through Unit for aggregate gross proceeds of $1,500,000. Each
Unit is comprised of one common share and one common share purchase
warrant (a "Warrant"). Each Flow-Through Unit is comprised of one
flow-through common share and one-half of one (1/2) Warrant. Each
whole Warrant will allow the subscriber to purchase one non
flow-through common share (a "Common Share") of the Company at a
price of $0.25 per Common Share and will be valid for a period of
24 months from the date of the closing.
Union Securities Ltd. will receive a commission of 8% in cash
based on all the Flow-Through Units and Units sold. In addition,
Union Securities will receive compensation options equal to 10% of
all Flow-Through Units and Units sold pursuant to this
offering.
The securities issued pursuant to this private placement are
subject to a hold period of four months and one day from closing.
This placement is subject to the approval of the regulatory
authorities.
About Z-Gold Exploration Inc.
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 112 claims 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: Rodrigue Tremblay, President and CEO (888) 764-5195 OR
(819) 797-0596 (819) 797-6050 (FAX) www.zgoldexploration.com
z-gold@tlb.sympatico.ca