Non Brokered Private Placement 1st Tranche Closes Raising Gross Proceeds of $179,875
VANCOUVER, British Columbia, Sept. 10, 2012 /PRNewswire/ -- Lori McClenahan, President of Intigold Mines Ltd. ("Intigold or the "Company") (OTCQX: IDMNF) (TSX.V: IGD), is pleased to announce that the Company has closed the 1st tranche of a non-brokered private placement previously announced on June 25, 2012. The private placement consists of 719,500 units at a price of $0.25 per unit raising gross proceeds of $179,875. Each unit consists of one common share and one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.35 per share in the first year and $0.45 per share in the second year expiring on September 10, 2014. In connection with the private placement, finders' fees of 10%, totaling $9,487.50 cash were paid.
In accordance with securities legislation currently in effect, the securities issued will be subject to a"hold period" of four months plus one day from the date of closing, expiring on January 11, 2013.
The proceeds of the private placement will be used for exploration expenditures on the Company's properties and for general working capital.
For information on Intigold and its projects, please visit us at www.intigold.com or call Lori McClenahan, President at 604-669-4677 or toll free at 1-888-895-5522:
INTIGOLD MINES LTD.
(signed "Lori McClenahan")
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Intigold Mines Ltd.