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| | Wed Dec 16, 2009
Cassidy Gold Corp. Announces Closing Of Private Placement
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| | Cassidy Gold Corp. ("Cassidy") announces that it has closed a non-brokered private placement of 10,000,000 units of Cassidy (the "Units") at a price of $0.20 per Unit for aggregate proceeds of $2,000,000. Each Unit consists of one common share in the capital of Cassidy and one half of one non-transferable share purchase warrant, each whole warrant entitling the holder to purchase one additional common share at a price of $0.30 until December 15, 2011, subject to accelerated expiry in certain circumstances. Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period until April 16, 2010 in accordance with applicable securities legislation. Cash finder's fees in the aggregate amount of $69,920 and warrants to acquire an aggregate of 349,600 common shares at an exercise price of $0.205 until December 15, 2011, subject to accelerated expiry in certain circumstances, were paid to persons who introduced Cassidy to investors.
Funds raised by this private placement will be used to undertake a drill program on the Nassile Gold Project, details of which were included in Cassidy's news release of November 16, 2009 and for further exploration work on Cassidy's 100% owned Kouroussa Gold Project, located in Guinea, West Africa.
For additional information, please contact:
James T. Gillis, President & CEO
Telephone: (250) 372-8222
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 news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Cassidy Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Cassidy Gold Corp.'s management on the date the statements are made. Except as required by law, Cassidy Gold Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. |
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| | You can view the Next News Releases item: Tue Dec 22, 2009, Cassidy Gold Commences Drill Program at Nassile Gold Project, Niger
You can view the Previous News Releases item: Mon Nov 16, 2009, Cassidy Gold Corp. Announces Property Option and Private Placement
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