VANCOUVER, March 7 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the
"Company") is pleased to announce that it has arranged a non-brokered private
placement of common shares to raise gross proceeds of approximately
CAD 4.0 million, subject to the approval of the TSX Venture Exchange.
The shares are priced at CAD 1.10 and subject to a four-month hold. The
Company will pay no finder's fee on these funds.
The private placement was arranged with two strategic investors. The
terms of the financing were established on February 29th, setting the price at
a 10% discount to the 20 day moving average at the time.
The private placement is being undertaken in order to fund the continued
sourcing of long lead time items for its Aurizona gold project, its ongoing
exploration drill program at Aurizona, and the initial drill program on its
Cachoeira gold project.
About Luna Gold Corp
Luna is a mining exploration company focused on the acquisition,
exploration, and development of gold resources and advanced stage gold
exploration projects in northeastern Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
Tim Searcy, P. Geo. - President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell 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 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
United States Securities Act of 1933 and applicable state securities laws or
an exemption from such registration is available.
For further information:
For further information: Investor Relations at (604) 689-7317 or toll
free at 1-866-689-7317