VANCOUVER, Dec. 13 /CNW/ - Luna Gold Corp. (TSXV-LGC) ("Luna" or the
"Company") is pleased to announce that its non-brokered private placement of
securities announced on December 5, 2007 has been over-subscribed and the
directors have decided to increase the offering to 9,770,000 Units for gross
proceeds of C$9,770,000 subject to the approval of the TSX Venture Exchange.
The private placement is being undertaken by Luna in order to continue with
its exploration and development programs at its Aurizona and Cachoeira gold
projects in Brazil.
The Units will be issued at a price of C$1.00 each, with each Unit
consisting of one common share and one-half of one share purchase warrant.
Each whole warrant will entitle the holder to purchase an additional common
share of the Company at a price of C$1.50 for a period of 18 months from the
date of issue.
A finder's fee of 6% cash and 6% broker's warrants is being paid to
certain parties who have introduced investors to the Company.
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.
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in Luna Gold Corp.'s periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Luna Gold does not assume the obligation to update any forward-looking
For further information:
For further information: Investor Relations at (604) 689-7317 or toll
free at 1-866-689-7317