Duncastle Announces Flow-Through and Non Flow-Through Private Placements
07 August 2009 - 4:33AM
Marketwired
Duncastle Gold Corp. (the "Company") (TSX VENTURE: DUN)(FRANKFURT:
5D3) reported today that it plans to issue up to 5.0 million common
shares in two non-brokered private placements for total gross
proceeds of C$520,000.
Flow-Through Private Placement
The Company plans to issue up to 3.5 million common shares in a
non-brokered flow-through unit private placement at a price of
C$0.11 per unit to raise C$385,000. Each unit will consist of one
flow-through common share and one-half eshare purchase warrant,
with each whole warrant exercisable to purchase one additional non
flow-through common share at an exercise price of C$0.15 per share
for a period of two years.
Non Flow-Through Private Placement
The Company also plans to issue up to 1.5 million common shares
in a non-brokered non flow-through unit private placement at a
price of C$0.09 per unit to raise C$135,000. Each unit will consist
of one common share and one share purchase warrant exercisable to
purchase one additional common share at an exercise price of C$0.15
per share for a period of two years.
Finder's fees may be payable on both private placements. The
private placements and finder's fees are subject to regulatory
approval. The proceeds from the private placements are for working
capital and the advancement of the Company's projects in SE British
Columbia.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Director, Duncastle Gold
Corp.
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.
Contacts: Duncastle Gold Corp. Jay Oness 1.888.456.1112 or
604.641.2771 corpdev@mnxltd.com www.duncastlegoldcorp.com
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