Dawson Gold Closes First Tranche of Private Placement
24 November 2011 - 1:00AM
Marketwired
Dawson Gold Corp. (TSX VENTURE:DYU)(FRANKFURT:3DG) ("Dawson Gold"
or the "Company") announces that further to the Company's news and
the special resolution passed by shareholders on September 23,
2011, the Company has received TSX Venture approval to consolidate
its capital on a 2 old for 1 new basis. As a result, effective at
the opening on November 23, 2011, common shares of Dawson Gold
Corp. will commence trading on TSX Venture Exchange on a
consolidated basis.
The Company is also pleased to announce that it subject to TSX
Venture Exchange acceptance, it will proceed to close an initial
tranche of its previously announced 24 million unit private
placement financing. The first tranche consists of 1,780,000 units
for gross proceeds of $189,000. The units are being offered at
$0.05, with each unit consisting of one share and one share
purchase warrant. Each warrant entitles the holder to acquire an
additional share for a period of 18 months from the closing date at
a price of $0.10.
In connection with the first tranche, the Company will pay
finder's fee commissions of $11,340 cash and 208,800 finder's
warrants. Each finder's warrants are exercisable at $0.10 into one
common share of the Company for 18 months from the issuance
date.
The securities issued pursuant to the first tranche and the
finders' fees are subject to a four-month hold period from the date
of closing. The Company will pay a finder's fee of up 6% in cash
and warrants or 6% in units on all or part of the private
placement.
The proceeds from the Offering will be used to fund exploration
on the Company's Toro project in Yukon and for general working
capital purposes.
About Dawson Gold Corp.
Dawson Gold Corp. is a mineral exploration company, focused on
the exploration and development of precious/base metals properties
located in Yukon. The Company is based in Vancouver, and is
supported by an aggressive management team with strong ties to the
Yukon. Dawson's cornerstone asset is the Toro Gold Property located
in the southern end of the White Gold District, in the Dawson
Range. The Toro Gold Project covers over 412 contiguous claims
(approximately 8,300 hectares) of prospective ground. Dawson has an
option to earn a 100% interest in the Toro Gold Property from
Northern Freegold Resources Ltd.
On behalf of the Board of Directors
Paul D Gray, P.Geo., Chief Executive Officer
Dawson Gold Corp.
For additional information please visit the Company's website at
www.dawsongold.com.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Dawson Gold Corp. Paul D. Gray Chief Executive Officer
604.687.2471 604.687.2472 (FAX)info@dawsongol.dcom Dawson Gold
Corp. Sarah Jones Corporate Communications
604.568.2486sjones@korcommunications.ca Dawson Gold Corp. Julie
Hajduk Corporate Communications
604.568.2486julie@korcommunications.comwww.dawsongold.com
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