Solid Gold Announces Proposed $500,000 Non-Brokered Private Placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN./
TORONTO, Aug. 30, 2013 /CNW/ - Solid Gold Resources Corp. ("Solid Gold") (TSXV: SLD) is pleased to announce a non-brokered private placement (the "Offering") pursuant to which it proposes to raise gross proceeds of up to $500,000 through the issuance of common shares in the capital of Solid Gold at a price of $0.01 per share. All securities issued pursuant to the Offering will be subject to a four-month hold period. Finders' fees may be payable to eligible persons with respect to the Offering and will be subject to regulatory approval. The net proceeds from the Offering will be used for working capital. Closing of the Offering is subject to approval of the TSX Venture Exchange.
Accordingly, the Offering replaces the proposed private placement of up to $35,000 at $0.02 per share announced on June 4, 2013.
Business of Solid Gold Resources Corp.
Solid Gold is a junior mining exploration and development company, which controls a +/-200-square-kilometer prospect hosting potential for discovery of economic mineralization at Lake Abitibi near the Porcupine Fault zone in Northern Ontario.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Solid Gold believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Solid Gold disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
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.
This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of Solid Gold. The securities of Solid Gold have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.
SOURCE Solid Gold Resources Corp.For further information:
Chief Executive Officer
Telephone: (905) 621-1670