This release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or for
dissemination in the United States
murgor.com | MGR : TSX-V
KINGSTON, ON, Dec. 11, 2012 /CNW/ - Murgor Resources Inc. (TSXV: MGR) has raised gross proceeds of $110,000 at a first closing of a private
placement by issuing 2,200,000 "flow-through" units at a price of $0.05
per unit. Murgor issued the securities to "accredited investors" in
Québec and Ontario. Murgor will use the proceeds from the private
placement for exploration on its properties in Ontario.
Each of the 2,200,000 "flow-through" units is comprised of one common
share and one common share purchase warrant. Each warrant entitles its
holder to acquire one additional common share of Murgor at a price of
$0.10 per share for a period of twelve months from the date of issuance
and at a price of $0.12 per share for a period of twelve months
Murgor paid a finder's fee to a registered dealer in an amount equal to
7% of the proceeds from the sale of the "flow-through" units.
The securities issued by Murgor at the first closing of the private
placement are subject to a four-month "hold period" ending on April 7,
2013 under applicable securities legislation and the policies of the
TSX Venture Exchange.
Following the first closing of the private placement, there are
123,325,590 common shares of Murgor issued and outstanding. Additional
closings of the private placement may be held until December 31, 2012.
Golden Arrow Update:
Murgor has now completed a 1,237 metre drill program in eleven drill
holes at Golden Arrow. The objective of the program was to test areas
within the shell of an optimized open pit design, to increase the
potential gold resource within this shell. Results will be released
when they are all received.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company
focused on near-term production at the Golden Arrow Gold Mine in
Ontario. Murgor also owns a 100% interest in two gold-copper deposits
in the Snow Lake and Flin Flon mining districts of Manitoba. Murgor
further owns an exceptional portfolio of gold properties in proven
mining districts of Canada, as well as a 1% NSR royalty in the Barry
Gold Mine and the Windfall Gold Project in Québec.
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.
SOURCE: Murgor Resources Inc.
For further information:
PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:
André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
E-mail: email@example.com Web site: www.murgor.com
Cathy Hume, CEO
CHF INVESTOR RELATIONS
Tel: (416) 868-1079 ext 231
Jeremy Hill, Account Manager
CHF INVESTOR RELATIONS
Tel: (416) 868-1079 ext 238