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Savary Gold Corp Closes $1 Million Financing

Friday, 14 Jun 2013 05:01pm EDT 

Savary Gold Corp announced that it has closed its previously announced private placement financing through the sale of 16,667,000 common shares at a price of $0.06 per common share for gross proceeds of $1,000,020. Savary intends to use the proceeds from the financing for continued exploration of the Hounde South project in Burkina Faso and for general corporate purposes. The Company has had remarkable success with its drilling program during the past year and is excited to continue work proving its thesis, that the Hounde South project hosts a deposit similar to other deposits producing or subject to development throughout the Hounde Greenstone Belt. The Common Shares issued by Savary are subject to statutory resale restrictions for a period of four months and one day, until October 15, 2013. Closing of the financing remains subject to receipt of all applicable regulatory approvals, including final approval of the TSX Venture Exchange. 

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