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Each Unit will consist of one common share of the Company and half common share purchase warrant, which entitles the holder to acquire one additional common share of the Company at a price of $0.14 for the first year and $0.20 for the second year following the closing of the Offering. The funds raised pursuant to the Offering will be used to fund the Company's general working capital. It is anticipated that the closing will take place by February 20th, 2009. Directors and officers of the Company are expected to participate in the private placement for a total amount of approximately $40,000.
All securities issued in the Offering will be subject to a four month hold period from the closing of the Offering. Completion of the placement is subject to the approval of the TSX Venture Exchange.
Profile:
Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by a resolute management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Adventure Gold Inc. Maureen Doherty Manager Corporate Communications 613-745-4041 maureen@adventure-gold.com Adventure Gold Inc. Marco Gagnon President & CEO 450-743-5527 marco@adventure-gold.com www.adventure-gold.com
SOURCE: Adventure Gold Inc.
mailto:maureen@adventure-gold.com mailto:marco@adventure-gold.com http://www.adventure-gold.com
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