Whistler Gold announces closing of Property Acquisition and Financing

    Trading Symbol: WGC:TSXV

    VANCOUVER, July 22 /CNW/ - Whistler Gold Corp. ("The Company") (WGC:TSXV)
announces that it has closed the acquisition of an indirect 90% interest in
the Beregovo and Kvasovo Gold-Lead-Zinc licenses in Southwest Ukraine.
Whistler Gold paid $6,000,000 and issued 2,500,000 common shares, in
consideration for 90% of the issued and outstanding shares of
Blantyre Securities Ltd., a BVI Company which owns all of the outstanding
shares of Svit Ltd., a Ukraine company which holds the rights to the
properties by way of two Special Permissions issued by the Ministry of
Environmental Protection of Ukraine. The 2,500,000 common shares will be
subject to a hold period expiring November 23, 2008.
    The Company also announces that it has closed a non-brokered financing
for gross proceeds of $8,000,000 through a private placement of 20 million
units @ $.40 per unit. Each unit consists of one common share and one share
purchase warrant exercisable for two years at $0.60 per share. The securities
are subject to a hold period expiring on November 23, 2008. From the proceeds
of the private placement $6,000,000 was used to fund the cash portion of the
consideration for the acquisition and the balance of the funds will be used
for proposed work programs on the properties and for general working capital.
    Pursuant to its Mandate Agreement with the Company, Endeavour Financial
received a success fee equal to 2% of the value of the transaction, or
$120,000 cash and the issuance of 50,000 shares of the Company.


    "Cary Pinkowski"

    Cary Pinkowski, President & Chief Executive Officer

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this press
    release, which has been prepared by management.

For further information:

For further information: Cary Pinkowski, Tel: (604) 694-1600

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890