VANCOUVER, March 14, 2012 /CNW/ - Wesgold Minerals Inc. (TSX-V: WSG) announces that it has arranged a bridge loan of US$1.5 million to provide it with the funds necessary to make an upcoming payment whereby the Company will acquire an 11% interest in the Cordoba Property, Colombia.
The loan is repayable within 90 days and is non-interest bearing. In consideration for the loan, the Company has agreed, subject to stock exchange approval, to issue to the lender 400,000 common shares of the Company.
About Wesgold Minerals
Wesgold Minerals Inc. is a Vancouver-based mineral exploration company focused on the acquisition and exploration of gold and copper projects in Colombia. Wesgold recently optioned from Minatura the Cordoba property, covering 25,790 hectares in the Department of Cordoba, Colombia, 200km north of the city of Medellin.
ON BEHALF OF THE BOARD
Simon Ridgway, Chairman of the Board
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
For further information:
please refer to the Company's filings on SEDAR (www.sedar.com) or contact the Company by telephone at 604-801-5432.