Mr. J. Bruce Carruthers reports
Q-GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Q-Gold Resources Ltd. intends to complete a non-brokered private placement for gross proceeds of up to $150,000, consisting of three million units at a price of five cents per unit. Each unit will consist of one common share and one common share purchase warrant, entitling the holder to acquire one additional common share at an exercise price of 10 cents for a period of 24 months from issuance.
All securities issued in connection with the offering will be subject to a four-month restriction from resale as stipulated under applicable securities legislation and the exchange.
A finder's fee may be payable in relation to the proposed private placement in line with the policies of the exchange.
The offering is subject to exchange approval.
Proceeds from the offering will be used by Q-Gold for continued exploration in the company's historical (19th century) gold and silver camps at Mine Centre, Ont., and Crown King, Ariz., to identify and analyze any potential opportunities for the company, and for general corporate purposes.
We seek Safe Harbor.
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