Glass Earth Gold Ltd Closes First Tranche Of $3 Million Placement

Glass Earth Gold Ltd announced that it has closed the first tranche of previously announced non-brokered Private Placement. A total of 18,501,000 Units have been sold at a price of $0.16 per unit for gross proceeds of CAD2,960,160. Each Unit consists of one common share and one common share purchase Warrant. Each whole Warrant entitles the holder to purchase one common share at a price of CAD0.25 per share, exercisable for a period of 24 months from the date of issuance. All the above securities issued pursuant to the private placement are subject to a hold period and may not be traded until April 12, 2013. The proceeds of this private placement are to advance the delineation and development of the Neavesville and WKP projects in the Hauraki region of New Zealand.