Algold Resources Ltd Announces Closing Of Private Placement
Algold Resources Ltd announced that the closing of a private placement (the Private Placement) of 6,774,998 units (the Units) at a price of CAD0.15 per Unit for gross proceeds of approximately CAD1,016,250. Each Unit is comprised of one common share of the Company (a Common Share) and one Common Share purchase warrant (a Warrant). Each Warrant entitles the holder to purchase one Common Share at a price of CAD0.20 at any time prior to January 11, 2015. The proceeds of the Private Placement will be used principally to fund exploration activities on the Company's Mauritania Project, and for general working capital purposes.
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