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| | Tue Jun 1, 2004
Cassidy Gold Corporation closes private placement of 3,212,163 Units for $1,927,297.80
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| | Having today received notification of acceptance for filing from the TSX Venture Exchange, Cassidy Gold Corporation has closed a private placement with 75 investors for a total of 3,212,163 Units at a price of $0.60 per Unit to raise a total of $1,927,297.80. Each Unit consists of one common share and one detachable non-transferable share purchase warrant entitling each investor to purchase one additional share over a two year term at a price of $0.70 during the initial year of the term and $0.80 during the final year of the term.
Shares acquired by placees are subject to a hold period and may not be traded until August 30, 2004, except as permitted by the BC Securities Act and Regulations made thereunder or by the Securities Legislation and Regulations applicable in the placees province or territory of residence.
Among the 75 placees, 2 were a members of a Pro Group, namely Randy Butchard and Randy Bergh and 3 were insiders, namely James T. Gillis, Thomas M. Hasek and Iadarola Investments (Osvaldo Iadarola). Collectively, Pro Group and insider participation involved 167,343 Units representing 5.2% of the entire capitalized private placement.
James T. Gillis, President
For further information please contact:
Jim Gillis, President
Phone: 250-372-8222 or Fax: 250-828-2269
Please Note:
This press release is posted on Cassidy Gold Corp.'s website: http://www.cassidygold.com/s/Home.asp and at Sedar-CDY
If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at cassidygold@telus.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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