VANCOUVER, April 27 /CNW/ - Evolving Gold Corporation (CNQ: GOLD) (OTCBB:
EVOGF) (the "Company") is pleased to announce the closing of a brokered
private placement raising CDN$3,013,250 (the "Offering") with Pacific
International Securities Inc. (the "Agent"), previously announced on March 19,
2007 and April 25, 2007.
The Offering consisted of the issuance of 12,053,000 units (the "Units")
at CDN$0.25 per Unit, each Unit consisting of one common share and one
transferable common share purchase warrant. Each warrant will entitle the
holder to purchase one additional common share prior to April 26, 2009 at a
price of CDN$0.35. The Company has paid to the Agent a commission equal to 8%
of the gross proceeds of the Offering, and the Agent has elected to receive
payment in a combination of cash and Units. The Agent has also been granted
compensation options (the "Compensation Options") equal in number to 10% of
the number of Units sold under the Offering for a total of 1,205,300
Compensation Options. Each Compensation Option entitles the Agent to purchase
one common share prior to April 26, 2009 at an exercise price of CDN$0.30. The
securities issued under the Offering are subject to a four month hold period
which will expire on August 27, 2007.
The net proceeds of the financing will be used for acquisition and
exploration of mineral properties in Southwest United States and for general
working capital purposes.
On Behalf of the Board of Directors
EVOLVING GOLD CORPORATION
Robert F. Bick
CEO and Director
Tel: 604 685 6375 or 1-866-604-3864
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
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 state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
For further information:
For further information: Suite 1500 - 885 West Georgia Street,
Vancouver, B.C., Canada, V6C 3E8, Tel. (604) 685-6375, Toll Free (866)
604-3864, Email. email@example.com, Web. www.evolvinggold.com