Uragold Closes Non-Brokered Private Placement
AUG 21, 2012 - 13:16 ET
FOR: URAGOLD BAY RESOURCES INC.
MONTREAL, QUEBEC, CANADA--(Marketwire - Aug. 21, 2012) - Uragold (the "Company""UBR")(TSX VENTURE:UBR), is pleased to announce that it has closed a non-brokered private placement for a total placement of $116,200.00. This will result in sale of up to 1,936,667 units (Units) at a subscription price of $0.06. Each Unit being comprised of 1 common share and 1 common share purchase warrant (the Warrants") of the Company. Each Warrant will entitle the holder thereof to purchase one common share of the capital stock of the Company at an exercise price of $ 0.10 during a period of 24 months from the date of closing of the placement. Each share issued pursuant to the placement will have a mandatory four (4) month holding period from the date of closing of the placement. The placement is subject to standard regulatory approvals.
Two Directors of the Corporation have subscribed a total of $45,000 to this placement.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a junior exploration company trading on the TSX Venture Exchange under the symbol UBR. Uragold holds gold properties in Southern Quebec's Appalachian belt. The properties benefit from extensive historical exploration work and from well-established infrastructure thereby helping to reduce exploration risks. Uragold's business model focuses on developing, a series of potential small scale low-cost mining operations for their potential in generating cash flow while simultaneously exploring core properties that hold the potential for the discovery of blue sky gold deposits like the MacDonald project.
Shares outstanding: 42,247,660