| ||Thu Oct 25, 2007|
Cassidy Gold Corp. Closes Private Placement Of Cad$4,000,000
| ||Cassidy Gold Corp. - (the "Company") is pleased to announce that it has completed a brokered private placement (the "Offering") consisting of 8,000,000 units of the Company ("Units") at a price of C$0.50 per Unit for aggregate gross proceeds of C$4,000,000. Each Unit consists of one common share of the Company and one warrant (a "Warrant") to purchase one common share of the Company. Each Warrant will entitle the holder thereof to acquire one common share of the Company if exercised on or before October 25, 2009 at a price of C$0.65 per share. The net proceeds will be used for the continued exploration of the Kouroussa Project of the Company located in Guinea and for general corporate purposes.|
Jennings Capital Inc. was retained by the Company to act as lead agent (the "Agent") in connection with the brokered placement. The Company has paid the Agent a cash commission equal to 6% of the gross proceeds of the Offering and issued broker warrants entitling the Agent to purchase up to 480,000 common shares of the Company exercisable at a price of C$0.50 per common share until October 25, 2009.
The securities issued in connection with the private placement are subject to a hold period expiring February 26, 2008.
Cassidy Gold Corp. is a gold exploration and development company listed on the TSX Venture Exchange (symbol CDY). Cassidy's principal asset is its 100% interest, subject to a 15% state participation, in the Kouroussa gold property in Guinea, West Africa.
On behalf of the Board of Directors
Cassidy Gold Corp. James T. Gillis, President
For further information please contact
Jim Gillis, President -- Phone: 250-372-8222 or Fax: 250-828-2269
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE 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 IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY
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You can view the Next News Releases item: Thu Nov 8, 2007, Indicated Resources Increase 38% at Cassidy Gold's Kouroussa Project
You can view the Previous News Releases item: Wed Sep 5, 2007, Cassidy Hits 64.06 g/t Au over 9.0m at Sanu Filanan, Kouroussa Gold Project, Guinea