COQUITLAM, BC, June 13 /CNW/ - Alpha Gold Corp. (TSX-V: ALQ) today
announced it has closed a non-brokered private placement through the issuance
of 5,862,214 units (3,060,496 flow-through units and 2,801,718
non-flow-through units) for total gross proceeds of $4,116,488.70. Finders'
fees of 8% were paid to eligible parties. Each Unit sold consisted of one
common share (either flow-through or non-flow-through) and one half of one
non-flow-through common share purchase warrant, priced at $0.75 per
flow-through unit and $0.65 per non-flow-through unit. Each whole warrant
entitles the holder to purchase a common share for $0.90 until May 28, 2008.
Each of the common shares, flow-through shares and warrants are subject to a
four-month hold period in Canada expiring September 29, 2007. The securities
will not be registered under the Securities Act of 1933 in the United States.
Closing is subject to TSX-V approval, approval in principle having
already been received.
Proceeds from the placement will be used to Alpha Gold's 2007 exploration
programs; with the primary drilling focus on the Valley zone; and secondary
drilling on the Porphyry Molybdenum zone, both on its 100%-owned Lustdust
Property in central British Columbia, as well as for general working capital
About Alpha Gold Corporation
Alpha Gold is a mineral exploration company whose 100%-owned Lustdust
Property is advantageously situated with nearby road and rail access in
central British Columbia. Lustdust consists of 17 contiguous mineral claims
covering 8,560 hectares and contains ten(10) known mineralized zones,
including: the gold-copper-silver Canyon Creek Skarn(1) and Skarn
Extension(2); Porphyry Molybdenum(3) zone; the Number 3(4), 4B(5), East(6) and
GD(7) zones of base and precious metal rich sulphide manto; the Bralorne Takla
Mercury Mine(8); the exploratory tunnels of the Takla Silver Mine(9)
(BCMINFILE 093N009), a developed prospect that contains high grade gold-silver
veins; and Carlin-style mineralization in the Valley(10) zone. Alpha Gold
Corporation has approximately 29 million shares issued and outstanding,
41.5 million fully diluted, and is listed on the TSX Venture Exchange under
the symbol "ALQ".
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Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. The Company does not assume the
obligation to update any forward-looking statement.
For further information:
For further information: George Whatley, President, Alpha Gold Corp., T:
(604) 939-7943, E: firstname.lastname@example.org, www.alphagold.bc.ca or Cathy Hume, CEO,
CHF Investor Relations, T: (416) 868-1079 x231, E: email@example.com