/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR U.S.
VANCOUVER, Dec. 20 /CNW/ - StrataGold Corporation (the "Company")
(SGV:TSX) is pleased to announce that it has closed its previously announced
short form prospectus offering (see news release dated November 30, 2007) (the
"Offering") and raised gross proceeds of $11,743,499.90. The agents' syndicate
for the Offering was led by Paradigm Capital Inc. and included Blackmont
Capital Inc., Jennings Capital Inc. and Westwind Partners Inc. (collectively,
At the closing of the Offering the Company issued 33,717,500 units
("Units") and 21,739,130 "flow-through" common shares (the "Flow-Through
Shares"). Each Unit is priced at $ 0.20 and consists of (i) one common share,
and (ii) one half of one common share purchase warrant ("Warrant"). Each full
Warrant is exercisable at a price of $0.25 for a period of 24 months from
closing. Each Flow-Through Share is priced at $0.23. Newmont Canada Limited,
an affiliate of Newmont Mining Corporation, ("Newmont") purchased a total of
10,000,000 Units for gross proceeds of $2 million.
The Agents received a cash commission equal to 6% of the gross proceeds
of the Offering, other than proceeds from the Units purchased by Newmont, on
which no commission was payable.
The net proceeds of the Offering from the Unit portion of the Offering
shall be used for exploration of the Tassawini property, the BRL Joint Venture
(StrataGold/Newmont 50/50 joint venture) and general corporate purposes. The
proceeds from the sale of the Flow-Through Shares shall be primarily for the
exploration and development program of the Dublin Gulch property. The gross
proceeds raised in connection with the Flow-Through Shares sold under the
Offering are to be used for qualifying Canadian Exploration Expenses under the
Income Tax Act (Canada).
All dollars in this release refer to Canadian funds.
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the U.S. 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, sold or delivered within the United States except in
transactions exempt from the registration requirements of the U.S. Securities
Act and applicable state securities laws.
StrataGold is a gold development company focused on the systematic
exploration of two advanced-stage gold projects. To obtain additional
information, photos and weekly project updates please visit:
Statement Regarding Forward Looking Statements
This news release of StrataGold Corporation (the "Company") contains
statements that constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements, or
developments in our industry, to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the
words "expects," "plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur. Forward-looking statements
in this document include statements regarding the Company's proposed use of
proceeds from its public offering and the Company's proposed exploration
activities. There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of their
respective dates. Important factors that could cause actual results to differ
materially from the Company's expectations include, among others, risks
related to fluctuations in mineral prices; fluctuations in financial markets;
and other risks and uncertainties discussed under the heading "Risk Factors"
and elsewhere in the Company's documents filed from time to time with the
Toronto Stock Exchange and Canadian securities regulators. These statements
are based on a number of assumptions, including assumptions regarding general
market conditions, the availability of financing for proposed transactions and
programs on reasonable terms, and the ability of outside service providers to
deliver services in a satisfactory and timely manner. Forward-looking
statements are based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as expressly required
by applicable securities laws, the Corporation undertakes no obligation to
update these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should change.
For further information:
For further information: Terry L. Tucker, President and CEO, Vanessa
Pickering, Manager, Investor Communications, StrataGold Corporation, Tel:
(604) 696-6601, E-Mail: firstname.lastname@example.org