Xtra-Gold Announces Proposed $2,500,000 Non-Brokered Private Placement
2012年12月4日 - 12:36AM
Xtra-Gold Resources Corp. ("Xtra-Gold" or
the "Company") (TSX:XTG) (OTCBB:XTGR) announces a proposed
non-brokered private placement financing of up to $2,500,000
through the sale of up to 2,941,176 Units at $0.85 per Unit,
subject to regulatory approval and closing. Each Unit consists of
one common share and one-half of one common share purchase
warrant. Each whole common share purchase warrant entitles the
holder to acquire one common share for $1.00 for a period of 24
months from the closing. All securities issued in conjunction
with the offering will be subject to a hold period, which expires
four months after closing.
Proceeds of the financing will be used to accelerate exploration
on Zone 5, the Company's newly discovered high-grade shear zone at
its Kibi Project in Ghana, West Africa which was announced in a
news release dated November 12, 2012, to fund exploration on the
Company's other mining areas in Ghana and for working capital.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities
described herein have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any U.S. state securities laws and may not be
offered or sold in the United States or to U.S. persons except in
compliance with the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws or
pursuant to an exemption therefrom.
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a land position in
the Kibi greenstone belt ("Kibi Gold Belt") located in Ghana, West
Africa. The Kibi Gold Belt, which exhibits many similar
geological features to Ghana's main gold belt, the Ashanti Belt has
been the subject of very limited modern exploration activity
targeting lode gold deposits as virtually all past gold mining
activity and exploration efforts focused on the extensive alluvial
gold occurrences in many river valleys throughout the Kibi
area.
Xtra-Gold holds five (5) Mining Leases totaling approximately
226 sq km (22,600 ha) at the northern extremity of the Kibi Gold
Belt. The Company's exploration efforts to date have focused
on the Kibi Project located on the Apapam Concession (33.65 sq km),
along the eastern flank of the Kibi Gold Belt. Xtra-Gold's
Kibi Project consists of an over 5.5 km long mineralized trend
delineated from gold-in-soil anomalies, geophysical
interpretations, trenching and drilling along the northwest margin
of the Apapam Concession.
Forward-Looking Statements
The TSX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This news release includes
certain "forward-looking statements". These statements are
based on information currently available to the Company and the
Company provides no assurance that actual results will meet
management's expectations. Forward-looking statements include
estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company
or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements
are based on assumptions and address future events and conditions,
by their very nature they involve inherent risks and uncertainties.
Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of
the Company's mineral properties, and the Company's financial
condition and prospects, could differ materially from those
currently anticipated in such statements for many reasons such as:
changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; technological
and operational difficulties encountered in connection with the
activities of the Company; and other matters discussed in this news
release. This list is not exhaustive of the factors that may
affect any of the Company's forward-looking statements. These
and other factors should be considered carefully and readers should
not place undue reliance on the Company's forward-looking
statements. The Company does not undertake to update any
forward-looking statement that may be made from time to time by the
Company or on its behalf, except in accordance with applicable
securities laws.
NOT FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA OR THROUGH U.S. NEWSWIRE
SERVICES
CONTACT: Paul Zyla
Chief Executive Officer
416-366-4227
E-mail: pzyla@xtragold.com
Website: www.xtragold.com
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