/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
TORONTO, March 26, 2014 /CNW/ - Roxgold Inc. (TSXV: ROG) ("Roxgold" or
the "Company") and the Appian Natural Resources Fund ("Appian") are
pleased to announce the purchase by Appian of 21,600,000 common shares
(the "Common Shares") of Roxgold at a cost of C$0.58 per share. This
placement was part of the C$29 Million public offering led by BMO
Capital Markets first announced on March 3, 2014 and closed on March
"We are delighted to welcome Appian as a new investor and significant
shareholder," commented John Dorward, President and CEO of Roxgold.
"We are confident that the Fund's operational and corporate expertise
as well as its long-term focus will contribute to Roxgold's development
strategy as we continue to advance the Yaramoko Gold Project over the
"Roxgold represents a unique value proposition in the natural resources
sector with an attractive asset and a strong management team. We look
forward to a long-term partnership to support the company's
development," added Michael W. Scherb, Appian's Founder. "Our team aims
to identify companies and projects capable of generating significant
value for our investors and other stakeholders, and we believe that
Roxgold represents just such an investment opportunity."
Canaccord Genuity Corp. and Haywood Securities Inc. acted as exclusive
financial advisors to Appian as part of the investment.
The net proceeds of the offering will be used to advance the Yaramoko
Gold Project and further exploration at the property, as well as for
general working capital purposes.
This press release is not an offer of the Common Shares in the United
States or in any other jurisdiction in which the offer or sale of the
Common Shares would be unlawful. The Common Shares have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent an
exemption from registration thereunder.
Roxgold is a gold exploration and development company with its key
asset, the high grade, 100% owned Yaramoko Gold Project located in the
mineral-rich Houndé greenstone region of Burkina Faso, West Africa. The
Company announced a Preliminary Economic Assessment in September 2013
which demonstrated attractive potential economics and is currently
completing a Feasibility Study which is expected to be completed in the
second quarter of 2014. Roxgold trades on the TSX Venture Exchange
under the symbol ROG.
The Appian Natural Resources Fund has been established to invest
specifically into small to medium-sized assets or companies in the
metals and mining sector. Appian has a uniquely collaborative
investment approach that seeks to partner with local owners, managers
and investors to leverage its world-class operational and corporate
finance expertise to generate significant value for the investors and
other stakeholders of both the Company and the Fund.
NEITHER THE 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.
Forward Looking Statements - Certain information set forth in this news
release may contain forward-looking statements that involve substantial
known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of
which are beyond the control of Roxgold, including, but not limited to
the impact of general economic conditions, industry conditions,
dependence upon regulatory approvals, the availability of financing and
the timing of completion of the Feasibility Study for the Yaramoko
project. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
SOURCE: Roxgold Inc.
For further information:
Manager, Investor Relations and Corporate Communications
Appian Capital Advisory LLP
Investment Advisor to Appian Natural Resources Fund
Michael Scherb, Verne Grinstead and Vincent Jacheet
33 St James's Street
+44 (0) 207 004 0951
Appian Natural Resources Fund
St Helier, Jersey, JE1 0BD, Channel Islands